GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 38,800 shares of the company's stock, valued at approximately $349,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Goodyear Tire & Rubber by 10.3% in the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock valued at $86,871,000 after buying an additional 897,463 shares during the period. Geode Capital Management LLC grew its stake in Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock worth $62,438,000 after purchasing an additional 86,227 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Goodyear Tire & Rubber by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock worth $46,330,000 after purchasing an additional 396,230 shares during the period. Norges Bank acquired a new stake in Goodyear Tire & Rubber in the 4th quarter valued at about $39,626,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Goodyear Tire & Rubber by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock valued at $33,648,000 after buying an additional 205,629 shares during the period. Institutional investors and hedge funds own 84.19% of the company's stock.
Goodyear Tire & Rubber Stock Performance
NASDAQ GT traded up $0.10 during trading hours on Friday, hitting $9.75. The company had a trading volume of 3,576,817 shares, compared to its average volume of 5,036,936. The business has a 50 day moving average of $9.35 and a 200-day moving average of $9.18. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $13.26. The company has a market cap of $2.78 billion, a PE ratio of 40.63 and a beta of 1.49.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Analyst Ratings Changes
A number of research analysts recently issued reports on GT shares. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price target for the company. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of "Moderate Buy" and an average target price of $13.78.
Check Out Our Latest Analysis on Goodyear Tire & Rubber
About Goodyear Tire & Rubber
(
Free Report)
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.
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