Leuthold Group LLC Has $4.91 Million Holdings in The Goodyear Tire & Rubber Company $GT

Leuthold Group LLC boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 48.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560,093 shares of the company’s stock after purchasing an additional 182,974 shares during the quarter. Leuthold Group LLC’s holdings in Goodyear Tire & Rubber were worth $4,906,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GT. Massachusetts Financial Services Co. MA acquired a new position in Goodyear Tire & Rubber during the 3rd quarter valued at $32,301,000. Wellington Management Group LLP raised its stake in shares of Goodyear Tire & Rubber by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock valued at $197,333,000 after buying an additional 2,796,332 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $17,686,000. Bridgeway Capital Management LLC acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $15,280,000. Finally, Invenomic Capital Management LP acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $13,753,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Down 2.6%

GT opened at $5.64 on Friday. The firm’s 50-day simple moving average is $6.76 and its 200-day simple moving average is $8.00. 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 twelve month low of $5.63 and a twelve month high of $12.03. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -0.78 and a beta of 1.17.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share 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 business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the firm earned ($0.04) EPS. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities research analysts anticipate that The Goodyear Tire & Rubber Company will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GT. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen cut shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Sunday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. TD Cowen dropped their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $7.00 price objective (down from $9.00) 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, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.54.

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.