180 Wealth Advisors LLC Has $824,000 Holdings in The Goodyear Tire & Rubber Company $GT

180 Wealth Advisors LLC grew its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 151.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 110,222 shares of the company’s stock after purchasing an additional 66,327 shares during the period. 180 Wealth Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $824,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. purchased a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at approximately $1,225,000. Strs Ohio acquired a new stake in Goodyear Tire & Rubber during the 1st quarter valued at $914,000. Econ Financial Services Corp purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at $923,000. JPMorgan Chase & Co. lifted its holdings in shares of Goodyear Tire & Rubber by 13.8% in the second quarter. JPMorgan Chase & Co. now owns 2,041,518 shares of the company’s stock valued at $21,171,000 after purchasing an additional 247,609 shares in the last quarter. Finally, EVR Research LP acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $10,370,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $8.73 on Monday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.71 and a current ratio of 1.27. The stock’s 50-day moving average is $8.04 and its 200-day moving average is $8.83. The company has a market cap of $2.50 billion, a P/E ratio of -1.44, a P/E/G ratio of 1.78 and a beta of 1.18. The Goodyear Tire & Rubber Company has a 52-week low of $6.51 and a 52-week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.12. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the business posted $0.37 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. Equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GT shares. JPMorgan Chase & Co. reduced their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Morgan Stanley raised their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 22nd. Finally, Citigroup cut their target price on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.85.

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.