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

Empowered Funds LLC lifted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,343,234 shares of the company’s stock after buying an additional 70,696 shares during the period. Empowered Funds LLC’s holdings in Goodyear Tire & Rubber were worth $8,906,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after acquiring an additional 1,011 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its stake in shares of Goodyear Tire & Rubber by 1.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock worth $657,000 after purchasing an additional 1,065 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Goodyear Tire & Rubber by 11.5% in the fourth quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock worth $98,000 after purchasing an additional 1,152 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Goodyear Tire & Rubber by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 131,568 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of Goodyear Tire & Rubber by 2.8% during the fourth quarter. Advisory Services Network LLC now owns 56,631 shares of the company’s stock valued at $496,000 after purchasing an additional 1,529 shares during the period. 84.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GT. Citigroup cut their price objective on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Hold” and a consensus target price of $8.54.

Goodyear Tire & Rubber Trading Down 2.7%

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

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly 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 negative net margin of 11.64% and a positive return on equity of 0.93%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the previous year, the business earned ($0.04) earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, sell-side analysts expect that The Goodyear Tire & Rubber Company will post -0.26 earnings per share for the current fiscal year.

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.