CenterBook Partners LP Has $10.64 Million Stock Holdings in The Goodyear Tire & Rubber Company $GT

CenterBook Partners LP decreased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 40.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,215,102 shares of the company’s stock after selling 825,690 shares during the quarter. CenterBook Partners LP owned approximately 0.42% of Goodyear Tire & Rubber worth $10,644,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth $26,000. Focus Partners Wealth acquired a new position in Goodyear Tire & Rubber during the 3rd quarter worth $25,000. Hantz Financial Services Inc. lifted its holdings in Goodyear Tire & Rubber by 384.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after buying an additional 4,198 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 55.5% during the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after buying an additional 2,538 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Goodyear Tire & Rubber by 29.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock worth $68,000 after buying an additional 1,749 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GT shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday. Citigroup reduced their price objective on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. TD Cowen reduced their price objective on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $8.54.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $5.71 on Monday. The firm has a fifty day moving average of $6.47 and a two-hundred day moving average of $7.84. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -0.79 and a beta of 1.12. The Goodyear Tire & Rubber Company has a 52 week low of $5.43 and a 52 week high of $12.03. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. As a group, equities research analysts predict that The Goodyear Tire & Rubber Company will post -0.32 EPS for the current year.

Goodyear Tire & Rubber Company 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.