Jupiter Topco LLC Takes $805,000 Position in The Goodyear Tire & Rubber Company $GT

Jupiter Topco LLC acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 121,841 shares of the company’s stock, valued at approximately $805,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EFG International AG bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $26,000. Los Angeles Capital Management LLC acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at $26,000. Focus Partners Wealth acquired a new position in Goodyear Tire & Rubber in the 3rd quarter valued at $25,000. Allworth Financial LP bought a new position in Goodyear Tire & Rubber in the 2nd quarter worth $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Goodyear Tire & Rubber by 656.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after acquiring an additional 5,248 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GT. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.26.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $6.25 on Monday. The Goodyear Tire & Rubber Company has a twelve month low of $5.43 and a twelve month high of $10.62. The stock has a market cap of $1.80 billion, a PE ratio of -0.71 and a beta of 1.10. The firm has a 50-day simple moving average of $6.59 and a 200 day simple moving average of $6.70. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.55 and a current ratio of 1.09.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, research analysts forecast that The Goodyear Tire & Rubber Company will post -0.43 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.