American Century Companies Inc. Raises Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

American Century Companies Inc. boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,652,329 shares of the company's stock after buying an additional 897,463 shares during the period. American Century Companies Inc. owned 3.39% of Goodyear Tire & Rubber worth $86,871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GT. KLCM Advisors Inc. grew its position in shares of Goodyear Tire & Rubber by 59.4% in the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company's stock worth $15,934,000 after buying an additional 659,635 shares during the last quarter. Barclays PLC lifted its holdings in shares of Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock valued at $8,635,000 after purchasing an additional 598,330 shares during the last quarter. Cibc World Market Inc. raised its stake in Goodyear Tire & Rubber by 72.1% in the fourth quarter. Cibc World Market Inc. now owns 1,408,001 shares of the company's stock valued at $12,672,000 after buying an additional 589,782 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Goodyear Tire & Rubber by 221.0% in the third quarter. BNP Paribas Financial Markets now owns 678,452 shares of the company's stock worth $6,004,000 after acquiring an additional 467,107 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Goodyear Tire & Rubber by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock worth $46,330,000 after acquiring an additional 396,230 shares during the last quarter. Institutional investors own 84.19% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research report on Tuesday, February 18th. Finally, TD Cowen initiated coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.18.

Goodyear Tire & Rubber Trading Up 1.7 %

Shares of GT traded up $0.16 during mid-day trading on Wednesday, reaching $9.50. The stock had a trading volume of 2,261,950 shares, compared to its average volume of 4,558,823. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The business's fifty day moving average is $9.21 and its 200 day moving average is $9.03. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.86. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 39.44 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.