Neo Ivy Capital Management Acquires Shares of 72,936 The Goodyear Tire & Rubber Company $GT

Neo Ivy Capital Management bought a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 72,936 shares of the company’s stock, valued at approximately $546,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Goodyear Tire & Rubber by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 27,950,476 shares of the company’s stock worth $209,070,000 after purchasing an additional 1,130,037 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Goodyear Tire & Rubber by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,704,063 shares of the company’s stock worth $109,988,000 after buying an additional 110,033 shares during the last quarter. American Century Companies Inc. increased its stake in Goodyear Tire & Rubber by 7.0% during the 3rd quarter. American Century Companies Inc. now owns 12,457,220 shares of the company’s stock worth $93,180,000 after buying an additional 816,703 shares in the last quarter. Greenvale Capital LLP purchased a new stake in Goodyear Tire & Rubber during the 2nd quarter worth approximately $106,292,000. Finally, Marshall Wace LLP raised its holdings in shares of Goodyear Tire & Rubber by 1,107.5% during the second quarter. Marshall Wace LLP now owns 7,825,605 shares of the company’s stock valued at $81,152,000 after acquiring an additional 7,177,542 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 3.6%

GT stock opened at $7.50 on Monday. 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 firm has a 50-day moving average of $9.10 and a two-hundred day moving average of $8.40. 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 market cap of $2.15 billion, a price-to-earnings ratio of -1.25, a PEG ratio of 0.32 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate 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%.The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Morgan Stanley boosted 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. Citigroup increased their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a research note 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. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.30.

About Goodyear Tire & Rubber

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.