Bastion Asset Management Inc. Has $8.08 Million Stake in The Goodyear Tire & Rubber Company $GT

Bastion Asset Management Inc. lifted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 72.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 963,938 shares of the company’s stock after buying an additional 406,410 shares during the period. Goodyear Tire & Rubber comprises 4.5% of Bastion Asset Management Inc.’s portfolio, making the stock its 7th biggest holding. Bastion Asset Management Inc.’s holdings in Goodyear Tire & Rubber were worth $8,076,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Goodyear Tire & Rubber by 4.2% in the third quarter. Vanguard Group Inc. now owns 27,950,476 shares of the company’s stock valued at $209,070,000 after buying an additional 1,130,037 shares during the period. Wellington Management Group LLP lifted its stake in shares of 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 valued at $197,333,000 after buying an additional 2,796,332 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Goodyear Tire & Rubber by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 14,704,063 shares of the company’s stock valued at $109,988,000 after buying an additional 110,033 shares during the period. American Century Companies Inc. lifted its stake in shares of Goodyear Tire & Rubber by 7.0% in the third quarter. American Century Companies Inc. now owns 12,457,220 shares of the company’s stock valued at $93,180,000 after buying an additional 816,703 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its stake in shares of Goodyear Tire & Rubber by 16.4% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,471,446 shares of the company’s stock valued at $48,406,000 after buying an additional 909,600 shares during the period. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $5.60 on Wednesday. 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 firm has a market cap of $1.61 billion, a price-to-earnings ratio of -0.77 and a beta of 1.17. The company has a 50 day moving average of $6.68 and a 200-day moving average of $7.99. The Goodyear Tire & Rubber Company has a 1-year low of $5.43 and a 1-year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. Goodyear Tire & Rubber’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) earnings per share. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GT shares. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Citigroup cut 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 note on Friday, May 8th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $8.54.

Goodyear Tire & Rubber Company 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.