Intech Investment Management LLC reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free 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.
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
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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