Huber Capital Management LLC trimmed its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 62.8% during the 4th quarter, HoldingsChannel reports. The fund owned 59,200 shares of the company’s stock after selling 100,000 shares during the quarter. Huber Capital Management LLC’s holdings in Goodyear Tire & Rubber were worth $519,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 4.2% during the third quarter. Vanguard Group Inc. now owns 27,950,476 shares of the company’s stock valued at $209,070,000 after purchasing an additional 1,130,037 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Goodyear Tire & Rubber by 11.9% during the third quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock valued at $197,333,000 after purchasing an additional 2,796,332 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Goodyear Tire & Rubber by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,206,853 shares of the company’s stock valued at $133,216,000 after purchasing an additional 502,790 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 7.0% during the third quarter. American Century Companies Inc. now owns 12,457,220 shares of the company’s stock valued at $93,180,000 after purchasing an additional 816,703 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Goodyear Tire & Rubber by 0.4% during the fourth quarter. State Street Corp now owns 10,450,140 shares of the company’s stock valued at $91,543,000 after purchasing an additional 36,786 shares in the last quarter. 84.19% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
GT has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Citigroup lowered their price target on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Finally, Zacks Research downgraded Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Reduce” and an average price target of $8.54.
Goodyear Tire & Rubber Stock Up 6.8%
Goodyear Tire & Rubber stock opened at $6.40 on Friday. The stock has a market cap of $1.84 billion, a PE ratio of -0.88 and a beta of 1.12. 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 one year low of $5.43 and a one year high of $11.79. The stock has a fifty day moving average of $6.42 and a 200 day moving average of $7.78.
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.Goodyear Tire & Rubber’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. As a group, sell-side analysts predict that The Goodyear Tire & Rubber Company will post -0.27 EPS for the current year.
Goodyear Tire & Rubber 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.
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