Massachusetts Financial Services Co. MA Buys 189,493 Shares of The Goodyear Tire & Rubber Company $GT

Key Points

• Massachusetts Financial Services Co. increased its stake in The Goodyear Tire & Rubber Company by 189,493 shares (a 4.4% rise), bringing its holding to 4,507,813 shares—about 1.58% ownership valued at roughly $39.49 million.
• Analysts have a consensus Hold rating with an average price target of $10.30; Goodyear recently missed EPS ($0.39 vs. $0.45 estimate) while reporting $4.92 billion in revenue, a negative net margin of 9.41%, and a market cap near $1.96 billion.

Massachusetts Financial Services Co. MA increased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,507,813 shares of the company's stock after buying an additional 189,493 shares during the period. Massachusetts Financial Services Co. MA owned 1.58% of Goodyear Tire & Rubber worth $39,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GT. Focus Partners Wealth bought a new position in Goodyear Tire & Rubber in the 3rd quarter worth about $25,000. Hantz Financial Services Inc. raised its stake in shares of Goodyear Tire & Rubber by 384.8% during the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company's stock valued at $40,000 after acquiring an additional 4,198 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $47,000. Bayforest Capital Ltd purchased a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $65,000. Finally, Newbridge Financial Services Group Inc. grew its stake in Goodyear Tire & Rubber by 29.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company's stock worth $68,000 after purchasing an additional 1,749 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Zacks Research downgraded Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 6th. Finally, Citigroup raised their price target on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.30.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $6.84 on Wednesday. The company has a market cap of $1.96 billion, a PE ratio of -1.14, a P/E/G ratio of 0.30 and a beta of 1.18. The firm's 50 day moving average price is $7.75 and its 200-day moving average price is $8.07. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.54 and a current ratio of 1.06. The Goodyear Tire & Rubber Company has a 52-week low of $6.14 and a 52-week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.85 billion. Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Profile

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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