The Goodyear Tire & Rubber Company $GT Stock Position Increased by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 76.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,135,023 shares of the company’s stock after purchasing an additional 491,210 shares during the period. Allianz Asset Management GmbH’s holdings in Goodyear Tire & Rubber were worth $8,490,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GT. Jones Financial Companies Lllp boosted its position in Goodyear Tire & Rubber by 16.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 20,960 shares of the company’s stock worth $165,000 after acquiring an additional 2,968 shares during the period. Thrivent Financial for Lutherans raised its holdings in Goodyear Tire & Rubber by 22.0% during the third quarter. Thrivent Financial for Lutherans now owns 152,921 shares of the company’s stock worth $1,144,000 after purchasing an additional 27,541 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth $126,000. Cloud Capital Management LLC bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth $47,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 5.4% in the third quarter. Federated Hermes Inc. now owns 93,559 shares of the company’s stock valued at $700,000 after buying an additional 4,772 shares during the period. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 0.1%

GT stock opened at $10.53 on Tuesday. The firm has a market cap of $3.01 billion, a PE ratio of -1.73, a PEG ratio of 0.79 and a beta of 1.18. The Goodyear Tire & Rubber Company has a 1 year low of $6.51 and a 1 year high of $12.03. The company has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $8.50. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 2.29.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last announced its quarterly earnings results on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06). The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.85 billion. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on GT. Citigroup dropped their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. dropped their target price on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Zacks Research cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday. Morgan Stanley raised their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus target price of $10.85.

View Our Latest Report on GT

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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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