Massachusetts Financial Services Co. MA Takes Position in The Goodyear Tire & Rubber Company $GT

Massachusetts Financial Services Co. MA purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,318,320 shares of the company’s stock, valued at approximately $32,301,000.

A number of other institutional investors also recently added to or reduced their stakes in GT. 4WEALTH Advisors Inc. increased its position in Goodyear Tire & Rubber by 20.1% during the 3rd quarter. 4WEALTH Advisors Inc. now owns 74,412 shares of the company’s stock worth $557,000 after purchasing an additional 12,455 shares during the period. Campbell & CO Investment Adviser LLC boosted its stake in shares of Goodyear Tire & Rubber by 161.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 85,480 shares of the company’s stock valued at $639,000 after buying an additional 52,744 shares in the last quarter. Sippican Capital Advisors grew its holdings in Goodyear Tire & Rubber by 31.1% during the third quarter. Sippican Capital Advisors now owns 237,640 shares of the company’s stock worth $1,778,000 after acquiring an additional 56,442 shares during the period. Bayforest Capital Ltd purchased a new position in Goodyear Tire & Rubber in the third quarter worth $65,000. Finally, State of Alaska Department of Revenue lifted its holdings in Goodyear Tire & Rubber by 45.9% in the third quarter. State of Alaska Department of Revenue now owns 46,907 shares of the company’s stock valued at $349,000 after acquiring an additional 14,756 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. 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 report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Citigroup decreased their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Zacks Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.85.

Goodyear Tire & Rubber Trading Up 1.9%

Shares of Goodyear Tire & Rubber stock opened at $9.55 on Friday. The Goodyear Tire & Rubber Company has a 1 year low of $6.51 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71. The business has a 50 day moving average price of $8.72 and a 200 day moving average price of $8.64. The company has a market capitalization of $2.73 billion, a P/E ratio of -1.57, a P/E/G ratio of 0.92 and a beta of 1.18.

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

Goodyear Tire & Rubber 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.