Hsbc Holdings PLC Boosts Stock Holdings in The Goodyear Tire & Rubber Company $GT

Hsbc Holdings PLC grew its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 144.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 430,136 shares of the company’s stock after purchasing an additional 254,305 shares during the quarter. Hsbc Holdings PLC’s holdings in Goodyear Tire & Rubber were worth $2,798,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Goodyear Tire & Rubber by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 9,764,853 shares of the company’s stock valued at $85,540,000 after purchasing an additional 5,886,935 shares in the last quarter. Wellington Management Group LLP raised its stake in Goodyear Tire & Rubber by 11.9% in the third quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock worth $197,333,000 after buying an additional 2,796,332 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in Goodyear Tire & Rubber during the third quarter worth $15,280,000. Morgan Stanley lifted its holdings in Goodyear Tire & Rubber by 32.3% during the fourth quarter. Morgan Stanley now owns 6,796,576 shares of the company’s stock worth $59,538,000 after buying an additional 1,660,963 shares during the period. Finally, LM Asset Management Inc. boosted its position in Goodyear Tire & Rubber by 229.4% during the 4th quarter. LM Asset Management Inc. now owns 1,680,000 shares of the company’s stock valued at $14,717,000 after acquiring an additional 1,170,000 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $7.21 on Friday. The firm’s fifty day simple moving average is $6.36 and its two-hundred day simple moving average is $7.35. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The Goodyear Tire & Rubber Company has a 12-month low of $5.43 and a 12-month high of $11.34. The firm has a market capitalization of $2.07 billion, a P/E ratio of -1.00 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.04) EPS. Analysts forecast that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current fiscal year.

Analyst Ratings Changes

GT has been the topic of a number of analyst reports. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Citigroup decreased their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus target price of $8.54.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.