Sei Investments Co. increased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 20.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 640,013 shares of the company’s stock after buying an additional 110,495 shares during the period. Sei Investments Co. owned about 0.22% of Goodyear Tire & Rubber worth $4,244,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Goodyear Tire & Rubber by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 9,764,853 shares of the company’s stock valued at $85,540,000 after acquiring an additional 5,886,935 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Goodyear Tire & Rubber by 11.9% in the third quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company’s stock worth $197,333,000 after purchasing an additional 2,796,332 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in Goodyear Tire & Rubber in the third quarter valued at $15,280,000. Morgan Stanley increased its holdings in Goodyear Tire & Rubber by 32.3% in the fourth quarter. Morgan Stanley now owns 6,796,576 shares of the company’s stock valued at $59,538,000 after purchasing an additional 1,660,963 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Goodyear Tire & Rubber by 8.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,558,938 shares of the company’s stock worth $109,778,000 after purchasing an additional 1,352,085 shares during the last quarter. 84.19% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on GT. Citigroup cut their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. TD Cowen reduced their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.54.
Goodyear Tire & Rubber Price Performance
Shares of GT opened at $6.94 on Thursday. The firm has a market cap of $1.99 billion, a PE ratio of -0.96 and a beta of 1.12. The Goodyear Tire & Rubber Company has a 52-week low of $5.43 and a 52-week high of $10.62. The business’s 50 day moving average price is $6.57 and its two-hundred day moving average price is $7.23. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04.
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the business posted ($0.17) EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities analysts anticipate that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current 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.
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