Allianz Asset Management GmbH Raises Holdings in The Goodyear Tire & Rubber Company $GT

Allianz Asset Management GmbH raised its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 76.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,135,023 shares of the company’s stock after buying an additional 491,210 shares during the quarter. Allianz Asset Management GmbH owned about 0.40% of Goodyear Tire & Rubber worth $8,490,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Solstein Capital LLC purchased a new position in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $26,000. Ameritas Advisory Services LLC acquired a new position in Goodyear Tire & Rubber in the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its stake in Goodyear Tire & Rubber by 3,894.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock worth $29,000 after buying an additional 2,726 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Goodyear Tire & Rubber in the 2nd quarter worth about $31,000. Finally, Cloud Capital Management LLC purchased a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

GT has been the subject of several research reports. Citigroup lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Morgan Stanley upped their price objective on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. cut their price target on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Zacks Research downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, Weiss Ratings reissued 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 issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.85.

Read Our Latest Stock Report on Goodyear Tire & Rubber

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 price-to-earnings 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 firm has a fifty day moving average price of $9.13 and a two-hundred day moving average price of $8.50. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71.

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

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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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