The Goodyear Tire & Rubber Company $GT Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 78.7% in the 4th quarter, Holdings Channel reports. The firm owned 99,349 shares of the company’s stock after selling 367,411 shares during the quarter. Intech Investment Management LLC’s holdings in Goodyear Tire & Rubber were worth $870,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Focus Partners Wealth acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at about $25,000. Hantz Financial Services Inc. grew its stake in shares of Goodyear Tire & Rubber by 384.8% during the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after acquiring an additional 4,198 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Goodyear Tire & Rubber by 29.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after acquiring an additional 1,749 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Goodyear Tire & Rubber by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 8,063 shares of the company’s stock valued at $71,000 after acquiring an additional 3,605 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at about $80,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $5.71 on Monday. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66. The firm’s 50-day moving average price is $6.47 and its two-hundred day moving average price is $7.84. The Goodyear Tire & Rubber Company has a 52-week low of $5.43 and a 52-week high of $12.03. The stock has a market capitalization of $1.64 billion, a P/E ratio of -0.79 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post -0.32 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. JPMorgan Chase & Co. restated an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research downgraded Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. TD Cowen lowered their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $8.54.

Check Out Our Latest Analysis on Goodyear Tire & Rubber

Goodyear Tire & Rubber Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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