Mitsubishi UFJ Trust & Banking Corp Raises Position in The Goodyear Tire & Rubber Company $GT

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 18.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 359,739 shares of the company’s stock after acquiring an additional 55,739 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Goodyear Tire & Rubber were worth $2,691,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GT. Solstein Capital LLC bought a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $26,000. Ameritas Advisory Services LLC purchased a new position in Goodyear Tire & Rubber during the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its position in Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after buying an additional 2,726 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter valued at $31,000. Finally, Signaturefd LLC grew its position in shares of Goodyear Tire & Rubber by 125.6% in the 2nd quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock worth $47,000 after buying an additional 2,510 shares during the period. Institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GT. Citigroup lowered their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Zacks Research raised Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. cut their price target on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Finally, Morgan Stanley lifted their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.85.

Goodyear Tire & Rubber Stock Down 2.1%

Shares of Goodyear Tire & Rubber stock opened at $9.41 on Friday. The Goodyear Tire & Rubber Company has a twelve month low of $6.51 and a twelve month high of $12.03. The company’s 50 day moving average is $8.93 and its 200 day moving average is $8.57. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 2.29. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -1.55, a price-to-earnings-growth ratio of 0.72 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.67 billion. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. Research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current 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.