Boston Partners Trims Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Posted by on May 10th, 2023

Boston Partners trimmed its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Rating) by 75.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,155 shares of the company’s stock after selling 130,797 shares during the period. Boston Partners’ holdings in Goodyear Tire & Rubber were worth $438,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC boosted its holdings in Goodyear Tire & Rubber by 142.9% in the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the period. Byrne Asset Management LLC boosted its holdings in Goodyear Tire & Rubber by 133.3% in the 4th quarter. Byrne Asset Management LLC now owns 4,550 shares of the company’s stock worth $46,000 after buying an additional 2,600 shares during the period. EverSource Wealth Advisors LLC bought a new position in Goodyear Tire & Rubber in the 3rd quarter worth $47,000. Wipfli Financial Advisors LLC bought a new position in Goodyear Tire & Rubber in the 3rd quarter worth $52,000. Finally, Neo Ivy Capital Management bought a new position in Goodyear Tire & Rubber in the 3rd quarter worth $100,000. Institutional investors own 79.34% of the company’s stock.

Goodyear Tire & Rubber Stock Up 1.8 %

Shares of NASDAQ:GT opened at $11.62 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.67 and a debt-to-equity ratio of 1.51. The Goodyear Tire & Rubber Company has a 12 month low of $9.66 and a 12 month high of $15.69. The company has a 50-day moving average price of $10.76 and a 200 day moving average price of $10.94. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 581.00 and a beta of 1.80.

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). Goodyear Tire & Rubber had a net margin of 0.02% and a return on equity of 3.44%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the business posted $0.37 EPS. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts predict that The Goodyear Tire & Rubber Company will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

GT has been the subject of several research reports. StockNews.com initiated coverage on shares of Goodyear Tire & Rubber in a report on Thursday, March 16th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Goodyear Tire & Rubber from $11.00 to $9.00 and set a “hold” rating for the company in a report on Friday, February 10th. Finally, BNP Paribas downgraded shares of Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating in a report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Hold” and a consensus target price of $12.43.

Goodyear Tire & Rubber Profile

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Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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