Intech Investment Management LLC Acquires 352,767 Shares of The Goodyear Tire & Rubber Company $GT

Intech Investment Management LLC lifted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 309.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 466,760 shares of the company’s stock after acquiring an additional 352,767 shares during the period. Intech Investment Management LLC’s holdings in Goodyear Tire & Rubber were worth $3,491,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Goodyear Tire & Rubber by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock valued at $1,567,000 after purchasing an additional 7,453 shares during the period. United Services Automobile Association acquired a new stake in shares of Goodyear Tire & Rubber in the first quarter valued at approximately $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Goodyear Tire & Rubber by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock valued at $6,074,000 after buying an additional 15,064 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $1,755,000. Finally, Nisa Investment Advisors LLC grew its position in Goodyear Tire & Rubber by 5.3% during the second quarter. Nisa Investment Advisors LLC now owns 30,303 shares of the company’s stock worth $314,000 after buying an additional 1,537 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Down 2.4%

GT stock opened at $8.25 on Monday. The firm has a 50-day moving average price of $9.18 and a 200-day moving average price of $8.42. The Goodyear Tire & Rubber Company has a 12 month low of $6.51 and a 12 month high of $12.03. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $2.36 billion, a P/E ratio of -1.38, a price-to-earnings-growth ratio of 0.35 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

GT has been the subject of several analyst reports. Citigroup lifted their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley raised their price target on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Zacks Research downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Hold” and an average target price of $10.83.

Goodyear Tire & Rubber Company 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.