Sei Investments Co. Has $4.24 Million Stock Position in The Goodyear Tire & Rubber Company $GT

Sei Investments Co. boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 20.9% during the 1st quarter, Holdings Channel reports. The fund owned 640,013 shares of the company’s stock after buying an additional 110,495 shares during the period. Sei Investments Co.’s holdings in Goodyear Tire & Rubber were worth $4,244,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GT. Focus Partners Wealth bought a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at approximately $25,000. EFG International AG acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. Los Angeles Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth $26,000. Parallel Advisors LLC lifted its holdings in shares of Goodyear Tire & Rubber by 55.5% in the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after purchasing an additional 2,538 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Goodyear Tire & Rubber by 29.1% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after purchasing an additional 1,749 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, TD Cowen lowered their target price on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.54.

Goodyear Tire & Rubber Trading Down 3.5%

Shares of GT stock opened at $6.94 on Thursday. The Goodyear Tire & Rubber Company has a 52-week low of $5.43 and a 52-week high of $10.62. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The company has a 50-day simple moving average of $6.57 and a two-hundred day simple moving average of $7.23. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -0.96 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the firm earned ($0.17) EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. Research analysts anticipate that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.