Newport Trust Company LLC Has $47.98 Million Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Newport Trust Company LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,350,790 shares of the company's stock after selling 139,767 shares during the quarter. Newport Trust Company LLC owned 1.18% of Goodyear Tire & Rubber worth $47,983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth $125,650,000. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $66,842,000. Electron Capital Partners LLC acquired a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $51,031,000. One Fin Capital Management LP purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $15,600,000. Finally, American Century Companies Inc. raised its position in shares of Goodyear Tire & Rubber by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 4,774,601 shares of the company's stock worth $59,348,000 after purchasing an additional 953,047 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HSBC dropped their price target on Goodyear Tire & Rubber from $16.80 to $15.90 and set a "buy" rating for the company in a research report on Wednesday, May 8th. StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Thursday.

Goodyear Tire & Rubber Trading Down 2.6 %

GT traded down $0.34 during trading on Monday, hitting $12.61. The company's stock had a trading volume of 2,065,948 shares, compared to its average volume of 3,612,858. The Goodyear Tire & Rubber Company has a twelve month low of $11.26 and a twelve month high of $16.50. The stock has a market cap of $3.59 billion, a PE ratio of -5.58 and a beta of 1.86. The firm's 50 day moving average price is $12.67 and its 200-day moving average price is $13.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.15 and a quick ratio of 0.60.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.10 EPS for the quarter. The company had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The firm's revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.29) EPS. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.24 earnings per share for the current year.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.