Sippican Capital Advisors Has $1.78 Million Stock Position in The Goodyear Tire & Rubber Company $GT

Sippican Capital Advisors increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 31.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,640 shares of the company’s stock after buying an additional 56,442 shares during the period. Sippican Capital Advisors’ holdings in Goodyear Tire & Rubber were worth $1,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $26,000. Ameritas Advisory Services LLC bought a new position in shares of Goodyear Tire & Rubber in the 2nd quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its position in Goodyear Tire & Rubber by 3,894.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after purchasing an additional 2,726 shares during the period. FNY Investment Advisers LLC bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at $31,000. Finally, Signaturefd LLC increased its stake in Goodyear Tire & Rubber by 125.6% during the 2nd quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock valued at $47,000 after purchasing an additional 2,510 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GT. JPMorgan Chase & Co. dropped their price objective on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Morgan Stanley boosted their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a report on Friday, November 28th. Finally, Citigroup lowered their price objective on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.85.

Goodyear Tire & Rubber Trading Down 0.9%

Shares of GT stock opened at $9.15 on Tuesday. 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 company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -1.50, a PEG ratio of 0.90 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. The company has a 50-day simple moving average of $8.47 and a two-hundred day simple moving average of $8.71.

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

About Goodyear Tire & Rubber

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.