The Goodyear Tire & Rubber Company $GT Shares Sold by Newport Trust Company LLC

Key Points

• Newport Trust Company LLC reduced its stake in Goodyear Tire & Rubber by 2.7%, holding 3,809,245 shares worth approximately $35.2 million after selling over 107,000 shares.
• Goodyear's latest earnings report showed a loss of ($0.17) EPS, missing estimates, with revenues of $4.47 billion, down 2.3% year-over-year.
• Wall Street analysts have adjusted their price targets for Goodyear stock, with estimates ranging from $9.00 to $17.00, reflecting a consensus rating of "Moderate Buy".

Newport Trust Company LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,809,245 shares of the company's stock after selling 107,391 shares during the quarter. Newport Trust Company LLC owned 1.34% of Goodyear Tire & Rubber worth $35,197,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Goodyear Tire & Rubber by 147.5% in the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after purchasing an additional 1,674 shares during the period. UMB Bank n.a. raised its holdings in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after purchasing an additional 1,748 shares during the period. Cloud Capital Management LLC acquired a new position in Goodyear Tire & Rubber in the 1st quarter worth about $33,000. Farther Finance Advisors LLC raised its holdings in Goodyear Tire & Rubber by 1,799.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after purchasing an additional 3,868 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Goodyear Tire & Rubber in the 4th quarter worth about $46,000. Institutional investors and hedge funds own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

GT stock opened at $8.25 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The business has a 50 day simple moving average of $10.26 and a 200-day simple moving average of $10.08. The firm has a market capitalization of $2.36 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). The company had revenue of $4.47 billion during the quarter, compared to analysts' expectations of $4.50 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. Goodyear Tire & Rubber's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft reduced their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 11th. HSBC reissued a "hold" rating and set a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday. BNP Paribas Exane reissued a "neutral" rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Finally, BNP Paribas cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and an average price target of $12.25.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.

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