JPMorgan Chase & Co. Lowers Stock Holdings in The Goodyear Tire & Rubber Company $GT

Key Points

• JPMorgan Chase & Co. cut its stake in Goodyear by 77.5% in Q3, selling 1,582,728 shares and retaining 458,790 shares (about 0.16% ownership) valued at roughly $3.43 million.
• Goodyear trades around $6.65 (1‑year range $6.14–$12.03); the company missed Q EPS estimates ($0.39 vs. $0.45) despite slight revenue outperformance, has a negative net margin, and carries a consensus "Hold" rating with a $10.30 price target.

JPMorgan Chase & Co. cut its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 77.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 458,790 shares of the company's stock after selling 1,582,728 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of Goodyear Tire & Rubber worth $3,432,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd acquired a new position in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $90,000. CIBC Bancorp USA Inc. purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at $208,000. Advisory Services Network LLC grew its position in Goodyear Tire & Rubber by 15.5% in the 3rd quarter. Advisory Services Network LLC now owns 55,102 shares of the company's stock valued at $412,000 after buying an additional 7,389 shares during the last quarter. NewEdge Advisors LLC increased its stake in Goodyear Tire & Rubber by 5.1% in the 3rd quarter. NewEdge Advisors LLC now owns 144,618 shares of the company's stock valued at $1,082,000 after buying an additional 6,965 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its stake in Goodyear Tire & Rubber by 1.1% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 180,734 shares of the company's stock valued at $1,353,000 after buying an additional 2,051 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $6.65 on Friday. The Goodyear Tire & Rubber Company has a 1 year low of $6.14 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.54 and a current ratio of 1.06. The stock has a fifty day moving average price of $8.12 and a two-hundred day moving average price of $8.14. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -1.11, a PEG ratio of 0.28 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.85 billion. Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. As a group, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GT has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Citigroup increased their price target on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Thursday, February 12th. Finally, Zacks Research downgraded shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $10.30.

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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