Newport Trust Company LLC Has $27.84 Million Holdings in The Goodyear Tire & Rubber Company $GT

Newport Trust Company LLC increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,722,057 shares of the company’s stock after buying an additional 160,081 shares during the period. Newport Trust Company LLC’s holdings in Goodyear Tire & Rubber were worth $27,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at $26,000. Ameritas Advisory Services LLC acquired a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd grew its holdings 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 worth $29,000 after purchasing an additional 2,726 shares during the period. FNY Investment Advisers LLC bought a new stake in Goodyear Tire & Rubber in the second quarter valued at approximately $31,000. Finally, Signaturefd LLC lifted its position in shares of Goodyear Tire & Rubber by 125.6% in the second quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock valued at $47,000 after buying an additional 2,510 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Up 0.6%

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

Goodyear Tire & Rubber (NASDAQ:GT) last announced its 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. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.