Sippican Capital Advisors Acquires Shares of 93,585 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Sippican Capital Advisors bought a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 93,585 shares of the company’s stock, valued at approximately $842,000.

Several other hedge funds have also added to or reduced their stakes in GT. Millennium Management LLC grew its stake in shares of Goodyear Tire & Rubber by 30.7% during the second quarter. Millennium Management LLC now owns 2,462,581 shares of the company’s stock valued at $27,950,000 after buying an additional 578,762 shares during the last quarter. Algert Global LLC raised its position in Goodyear Tire & Rubber by 9.5% in the 2nd quarter. Algert Global LLC now owns 163,548 shares of the company’s stock worth $1,856,000 after buying an additional 14,133 shares during the last quarter. Creative Planning raised its stake in Goodyear Tire & Rubber by 10.9% during the 2nd quarter. Creative Planning now owns 70,973 shares of the company’s stock valued at $806,000 after buying an additional 6,982 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Goodyear Tire & Rubber by 80.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,681 shares of the company’s stock valued at $326,000 after acquiring an additional 12,822 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Goodyear Tire & Rubber in the second quarter worth approximately $8,492,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 0.7 %

Shares of GT stock opened at $9.07 on Thursday. The stock has a market cap of $2.58 billion, a P/E ratio of -8.72 and a beta of 1.80. The company’s fifty day simple moving average is $9.43 and its two-hundred day simple moving average is $9.15. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $14.56.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the firm earned $0.36 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. Analysts predict that The Goodyear Tire & Rubber Company will post 1.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GT has been the subject of several analyst reports. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.30.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.