Intech Investment Management LLC Has $961,000 Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

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

Several other hedge funds also recently bought and sold shares of GT. Family Firm Inc. acquired a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at $26,000. Mather Group LLC. increased its holdings in shares of Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company's stock valued at $30,000 after acquiring an additional 2,580 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at approximately $40,000. Sound Income Strategies LLC lifted its holdings in Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company's stock worth $35,000 after purchasing an additional 3,778 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in Goodyear Tire & Rubber during the second quarter worth approximately $57,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT traded up $0.51 during trading on Thursday, reaching $10.61. The stock had a trading volume of 5,846,312 shares, compared to its average volume of 4,306,960. The stock has a market capitalization of $3.02 billion, a PE ratio of -10.20 and a beta of 1.69. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The business's 50-day moving average price is $8.79 and its 200 day moving average price is $9.91.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the company posted $0.36 earnings per share. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current year.

Goodyear Tire & Rubber Company 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.