Victory Capital Management Inc. Increases Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Victory Capital Management Inc. boosted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,147,744 shares of the company's stock after purchasing an additional 396,230 shares during the period. Victory Capital Management Inc. owned about 1.81% of Goodyear Tire & Rubber worth $46,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GT. Truist Financial Corp lifted its stake in shares of Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after buying an additional 1,115 shares during the last quarter. Barclays PLC increased its holdings in Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock valued at $8,635,000 after buying an additional 598,330 shares during the period. Geode Capital Management LLC increased its holdings in Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after buying an additional 86,227 shares during the period. FMR LLC increased its holdings in Goodyear Tire & Rubber by 28.1% in the 3rd quarter. FMR LLC now owns 842,822 shares of the company's stock valued at $7,459,000 after buying an additional 184,770 shares during the period. Finally, Landscape Capital Management L.L.C. grew its holdings in shares of Goodyear Tire & Rubber by 69.5% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 142,790 shares of the company's stock valued at $1,264,000 after purchasing an additional 58,526 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GT shares. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday. They set a "buy" rating and a $14.00 price target on the stock. 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 target price on the stock in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three 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. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Up 9.1 %

Shares of NASDAQ GT traded up $0.82 during trading on Friday, hitting $9.79. The stock had a trading volume of 8,173,831 shares, compared to its average volume of 5,747,280. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.86. 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 company has a market capitalization of $2.79 billion, a PE ratio of 40.79 and a beta of 1.71. The firm has a fifty day moving average of $9.11 and a two-hundred day moving average of $8.97.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Profile

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.