Anderson Financial Strategies LLC Purchases New Position in The Goodyear Tire & Rubber Company $GT

Anderson Financial Strategies LLC acquired a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 176,156 shares of the company’s stock, valued at approximately $1,318,000. Goodyear Tire & Rubber comprises about 0.8% of Anderson Financial Strategies LLC’s portfolio, making the stock its 28th biggest position. Anderson Financial Strategies LLC owned about 0.06% of Goodyear Tire & Rubber as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Greenvale Capital LLP purchased a new position in Goodyear Tire & Rubber during the second quarter worth $106,292,000. Marshall Wace LLP raised its holdings in shares of Goodyear Tire & Rubber by 1,107.5% in the second quarter. Marshall Wace LLP now owns 7,825,605 shares of the company’s stock worth $81,152,000 after buying an additional 7,177,542 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $32,301,000. Maple Rock Capital Partners Inc. boosted its holdings in Goodyear Tire & Rubber by 215.6% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 5,561,846 shares of the company’s stock valued at $57,676,000 after acquiring an additional 3,799,383 shares during the period. Finally, Norges Bank bought a new position in Goodyear Tire & Rubber in the 2nd quarter valued at $29,112,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Up 6.8%

GT opened at $9.96 on Wednesday. The Goodyear Tire & Rubber Company has a 12 month low of $6.51 and a 12 month high of $12.03. The stock has a fifty day moving average price of $8.99 and a 200-day moving average price of $8.52. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -1.64, a PEG ratio of 0.70 and a beta of 1.18. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 2.29.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Morgan Stanley boosted their price objective on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research report on Friday, November 28th. Citigroup dropped their target price on shares of 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. JPMorgan Chase & Co. decreased their price target on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $10.85.

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.