Lonestar Capital Management Lowers stake in Goodyear Tire & Rubber Co (GT)

Goodyear Tire & Rubber Co (GT) : Lonestar Capital Management reduced its stake in Goodyear Tire & Rubber Co by 25.29% during the most recent quarter end. The investment management company now holds a total of 650,000 shares of Goodyear Tire & Rubber Co which is valued at $19,045,000 after selling 220,000 shares in Goodyear Tire & Rubber Co , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Goodyear Tire & Rubber Co makes up approximately 20.96% of Lonestar Capital Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp reduced its stake in GT by selling 7,671 shares or 32.14% in the most recent quarter. The Hedge Fund company now holds 16,200 shares of GT which is valued at $474,660. Mizuho Asset Managementltd. added GT to its portfolio by purchasing 3,257 company shares during the most recent quarter which is valued at $95,430. Goodyear Tire & Rubber Co makes up approx 0.02% of Mizuho Asset Managementltd.’s portfolio.Eaton Vance Management reduced its stake in GT by selling 4,683 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 2,273,549 shares of GT which is valued at $67,137,902. Goodyear Tire & Rubber Co makes up approx 0.19% of Eaton Vance Management’s portfolio. Her Majesty The Queen In Right Of The Province Of Alberta… added GT to its portfolio by purchasing 30,000 company shares during the most recent quarter which is valued at $837,600. Goodyear Tire & Rubber Co makes up approx 0.01% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Tradelink Capital boosted its stake in GT in the latest quarter, The investment management firm added 343 additional shares and now holds a total of 7,833 shares of Goodyear Tire & Rubber Co which is valued at $218,697. Goodyear Tire & Rubber Co makes up approx 1.01% of Tradelink Capital’s portfolio.

Goodyear Tire & Rubber Co closed down -0.15 points or -0.51% at $29.2 with 32,84,334 shares getting traded on Thursday. Post opening the session at $29.36, the shares hit an intraday low of $29.01 and an intraday high of $29.715 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Goodyear Tire & Rubber Co reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.02. The company had revenue of $3879.00 million for the quarter, compared to analysts expectations of $3921.47 million. The company’s revenue was down -7.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on Goodyear Tire & Rubber Co. Goodyear Tire & Rubber Co was Upgraded by Standpoint Research to ” Buy” on May 20, 2016.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development manufacture distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe Middle East and Africa (EMEA); Latin America and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles motorcycles trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear Dunlop Kelly Debica Sava and Fulda brands and various other Goodyear owned-house brands and the private-label brands of certain customers.

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