Huber Capital Management LLC Trims Position in The Goodyear Tire & Rubber Company $GT

Huber Capital Management LLC cut its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 62.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,200 shares of the company’s stock after selling 100,000 shares during the period. Huber Capital Management LLC’s holdings in Goodyear Tire & Rubber were worth $519,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Kestra Advisory Services LLC boosted its position in shares of Goodyear Tire & Rubber by 5.2% during the fourth quarter. Kestra Advisory Services LLC now owns 46,511 shares of the company’s stock valued at $407,000 after purchasing an additional 2,294 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $1,169,000. LM Asset Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 229.4% during the fourth quarter. LM Asset Management Inc. now owns 1,680,000 shares of the company’s stock valued at $14,717,000 after purchasing an additional 1,170,000 shares in the last quarter. Quinn Opportunity Partners LLC boosted its position in shares of Goodyear Tire & Rubber by 15.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 924,540 shares of the company’s stock valued at $8,099,000 after purchasing an additional 120,623 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. boosted its position in shares of Goodyear Tire & Rubber by 1.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock valued at $657,000 after purchasing an additional 1,065 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Up 6.8%

Goodyear Tire & Rubber stock opened at $6.40 on Friday. 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 business’s fifty day simple moving average is $6.42 and its two-hundred day simple moving average is $7.78. The Goodyear Tire & Rubber Company has a 12 month low of $5.43 and a 12 month high of $11.79. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -0.88 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post -0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on GT. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Citigroup dropped their price target on 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. 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 report on Monday, May 11th. TD Cowen dropped their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, Zacks Research lowered Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently 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.