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

Intech Investment Management LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 78.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,349 shares of the company’s stock after selling 367,411 shares during the period. Intech Investment Management LLC’s holdings in Goodyear Tire & Rubber were worth $870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after purchasing an additional 1,011 shares during the period. Farther Finance Advisors LLC increased its position in Goodyear Tire & Rubber by 11.5% during the 4th quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock worth $98,000 after purchasing an additional 1,152 shares during the period. Cidel Asset Management Inc. increased its position in Goodyear Tire & Rubber by 14.5% during the 4th quarter. Cidel Asset Management Inc. now owns 12,392 shares of the company’s stock worth $109,000 after purchasing an additional 1,570 shares during the period. Newbridge Financial Services Group Inc. increased its position in Goodyear Tire & Rubber by 29.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock worth $68,000 after purchasing an additional 1,749 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its position in Goodyear Tire & Rubber by 18.0% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 12,376 shares of the company’s stock worth $109,000 after purchasing an additional 1,884 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT opened at $5.71 on Monday. The stock has a market cap of $1.64 billion, a P/E ratio of -0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The stock’s 50 day simple moving average is $6.47 and its 200 day simple moving average is $7.84. The Goodyear Tire & Rubber Company has a 1-year low of $5.43 and a 1-year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the company earned ($0.04) EPS. Goodyear Tire & Rubber’s revenue was down 8.7% on a year-over-year basis. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post -0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on GT. TD Cowen dropped their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Finally, Citigroup lowered their price target 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. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $8.54.

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.