The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 190.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,621 shares of the company’s stock after acquiring an additional 71,217 shares during the period. Intech Investment Management LLC’s holdings in Goodyear Tire & Rubber were worth $961,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GT. American Century Companies Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after acquiring an additional 1,013,550 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Goodyear Tire & Rubber by 3,921.7% during the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock worth $42,051,000 after purchasing an additional 4,633,368 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Goodyear Tire & Rubber by 13.4% in the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock worth $36,301,000 after buying an additional 484,198 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Goodyear Tire & Rubber by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock worth $30,817,000 after buying an additional 71,410 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Goodyear Tire & Rubber by 91.5% in the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock valued at $28,203,000 after buying an additional 1,211,519 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Up 5.0 %

Shares of GT opened at $10.61 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $15.24. The stock has a 50-day moving average price of $8.74 and a 200 day moving average price of $9.91. The company has a market capitalization of $3.02 billion, a P/E ratio of -10.12 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.