Newport Trust Company LLC Purchases 160,081 Shares of The Goodyear Tire & Rubber Company $GT

Newport Trust Company LLC grew its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,722,057 shares of the company’s stock after purchasing an additional 160,081 shares during the quarter. Newport Trust Company LLC owned approximately 1.30% of Goodyear Tire & Rubber worth $27,841,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GT. Solstein Capital LLC acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth about $26,000. Ameritas Advisory Services LLC bought a new position in shares of Goodyear Tire & Rubber during the second quarter worth $29,000. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 worth $29,000 after purchasing an additional 2,726 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at $31,000. Finally, Signaturefd LLC increased 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 valued at $47,000 after buying an additional 2,510 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GT shares. JPMorgan Chase & Co. decreased their target price on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. 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 report on Friday, November 28th. Citigroup decreased their price objective on 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. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.85.

Goodyear Tire & Rubber Stock Up 0.6%

Shares of GT stock opened at $9.61 on Friday. The firm’s fifty day moving average price is $8.76 and its two-hundred day moving average price is $8.61. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 2.29. The Goodyear Tire & Rubber Company has a 1 year low of $6.51 and a 1 year high of $12.03. The firm has a market capitalization of $2.75 billion, a P/E ratio of -1.58, a PEG ratio of 0.94 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.12. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.Goodyear Tire & Rubber’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. On average, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS 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.