Leuthold Group LLC Makes New Investment in The Goodyear Tire & Rubber Company $GT

Leuthold Group LLC purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 377,119 shares of the company’s stock, valued at approximately $2,821,000. Leuthold Group LLC owned 0.13% of Goodyear Tire & Rubber as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of Goodyear Tire & Rubber by 6.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after acquiring an additional 1,011 shares during the last quarter. State of Michigan Retirement System increased its stake in Goodyear Tire & Rubber by 1.9% in the 2nd quarter. State of Michigan Retirement System now owns 68,726 shares of the company’s stock worth $713,000 after purchasing an additional 1,300 shares during the period. Nisa Investment Advisors LLC lifted its position in Goodyear Tire & Rubber by 5.3% in the second quarter. Nisa Investment Advisors LLC now owns 30,303 shares of the company’s stock valued at $314,000 after purchasing an additional 1,537 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Goodyear Tire & Rubber by 0.7% during the second quarter. Retirement Systems of Alabama now owns 349,195 shares of the company’s stock valued at $3,621,000 after purchasing an additional 2,347 shares during the period. Finally, Solstein Capital LLC bought a new position in shares of Goodyear Tire & Rubber in the second quarter worth approximately $26,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. JPMorgan Chase & Co. decreased 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 report on Monday, October 20th. Citigroup increased their target price on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley raised their target price on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.98.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock opened at $9.34 on Friday. The Goodyear Tire & Rubber Company has a fifty-two week low of $6.51 and a fifty-two week high of $12.03. The stock’s 50 day simple moving average is $9.17 and its two-hundred day simple moving average is $8.50. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -1.56, a PEG ratio of 0.71 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share 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.