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

Intech Investment Management LLC lifted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 309.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 466,760 shares of the company’s stock after purchasing an additional 352,767 shares during the period. Intech Investment Management LLC owned 0.16% of Goodyear Tire & Rubber worth $3,491,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GT. Hantz Financial Services Inc. raised its position in Goodyear Tire & Rubber by 384.8% during the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after acquiring an additional 4,198 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $47,000. Bayforest Capital Ltd acquired a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth about $65,000. Allworth Financial LP increased its stake in shares of Goodyear Tire & Rubber by 67.9% during the 2nd quarter. Allworth Financial LP now owns 7,433 shares of the company’s stock worth $77,000 after purchasing an additional 3,007 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $78,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 2.4%

Shares of GT opened at $8.25 on Monday. The firm has a market cap 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. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.54 and a current ratio of 1.06. The Goodyear Tire & Rubber Company has a 52 week low of $6.51 and a 52 week high of $12.03. The firm’s 50-day simple moving average is $9.18 and its 200 day simple moving average is $8.42.

Goodyear Tire & Rubber (NASDAQ:GT) last issued 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). Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Morgan Stanley upped their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Citigroup raised their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Zacks Research lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Hold” and an average price target 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.