Leonteq Securities AG Purchases New Holdings in The Goodyear Tire & Rubber Company $GT

Leonteq Securities AG purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 336,668 shares of the company’s stock, valued at approximately $2,949,000. Leonteq Securities AG owned 0.12% of Goodyear Tire & Rubber at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Goodyear Tire & Rubber by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 27,950,476 shares of the company’s stock valued at $209,070,000 after acquiring an additional 1,130,037 shares during the period. Wellington Management Group LLP lifted its position in Goodyear Tire & Rubber by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock valued at $197,333,000 after acquiring an additional 2,796,332 shares during the period. Dimensional Fund Advisors LP lifted its position in Goodyear Tire & Rubber by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,704,063 shares of the company’s stock valued at $109,988,000 after acquiring an additional 110,033 shares during the period. American Century Companies Inc. lifted its position in Goodyear Tire & Rubber by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 12,457,220 shares of the company’s stock valued at $93,180,000 after acquiring an additional 816,703 shares during the period. Finally, Maple Rock Capital Partners Inc. lifted its position in Goodyear Tire & Rubber by 16.4% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,471,446 shares of the company’s stock valued at $48,406,000 after acquiring an additional 909,600 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GT. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Citigroup reduced their price objective 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. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Sunday. Zacks Research lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, 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. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $8.54.

Goodyear Tire & Rubber Stock Down 0.4%

NASDAQ:GT opened at $5.58 on Thursday. The firm has a market cap of $1.60 billion, a P/E ratio of -0.77 and a beta of 1.17. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a fifty-two week low of $5.43 and a fifty-two week high of $12.03. The firm has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $7.98.

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

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.