The Goodyear Tire & Rubber Company $GT Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,343,234 shares of the company’s stock after purchasing an additional 70,696 shares during the period. Empowered Funds LLC owned 0.47% of Goodyear Tire & Rubber worth $8,906,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Bastion Asset Management Inc. lifted its holdings in Goodyear Tire & Rubber by 72.9% during the 4th quarter. Bastion Asset Management Inc. now owns 963,938 shares of the company’s stock worth $8,076,000 after buying an additional 406,410 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Goodyear Tire & Rubber by 144.6% in the 1st quarter. Hsbc Holdings PLC now owns 430,136 shares of the company’s stock valued at $2,798,000 after acquiring an additional 254,305 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Goodyear Tire & Rubber by 113.5% during the 1st quarter. SG Americas Securities LLC now owns 1,447,677 shares of the company’s stock valued at $9,598,000 after acquiring an additional 769,710 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Goodyear Tire & Rubber by 8.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,558,938 shares of the company’s stock worth $109,778,000 after purchasing an additional 1,352,085 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Goodyear Tire & Rubber by 4.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,507,813 shares of the company’s stock worth $39,488,000 after purchasing an additional 189,493 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 2.7%

NASDAQ:GT opened at $7.08 on Friday. The firm has a market capitalization of $2.04 billion, a P/E ratio of -0.98 and a beta of 1.12. The business has a 50 day simple moving average of $6.49 and a 200 day simple moving average of $7.29. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The Goodyear Tire & Rubber Company has a 12-month low of $5.43 and a 12-month high of $10.62.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion for 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 firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. Equities research analysts predict that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current year.

Analyst Ratings Changes

GT has been the subject of a number of research reports. TD Cowen decreased their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Hold” and a consensus price target of $8.54.

Goodyear Tire & Rubber Profile

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.