The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 3,921.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,751,514 shares of the company's stock after acquiring an additional 4,633,368 shares during the quarter. Victory Capital Management Inc. owned 1.67% of Goodyear Tire & Rubber worth $42,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GT. ProShare Advisors LLC grew its position in Goodyear Tire & Rubber by 4.7% during the first quarter. ProShare Advisors LLC now owns 64,454 shares of the company's stock valued at $885,000 after buying an additional 2,901 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Goodyear Tire & Rubber by 27.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 115,130 shares of the company's stock worth $1,581,000 after buying an additional 24,587 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Goodyear Tire & Rubber by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company's stock valued at $410,082,000 after buying an additional 765,529 shares during the last quarter. Edgestream Partners L.P. boosted its position in Goodyear Tire & Rubber by 61.6% during the first quarter. Edgestream Partners L.P. now owns 57,032 shares of the company's stock worth $783,000 after acquiring an additional 21,741 shares during the last quarter. Finally, Covestor Ltd grew its stake in Goodyear Tire & Rubber by 33.6% during the 1st quarter. Covestor Ltd now owns 5,108 shares of the company's stock valued at $70,000 after acquiring an additional 1,284 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Down 0.6 %

Shares of Goodyear Tire & Rubber stock traded down $0.06 during mid-day trading on Friday, hitting $9.27. The stock had a trading volume of 3,534,574 shares, compared to its average volume of 4,305,663. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24. The firm has a market cap of $2.64 billion, a P/E ratio of -8.91 and a beta of 1.69. The firm has a 50-day moving average of $8.50 and a two-hundred day moving average of $10.07. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.25 by $0.12. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company's quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wolfe Research lowered shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th. StockNews.com downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Goodyear Tire & Rubber currently has an average rating of "Moderate Buy" and an average target price of $17.23.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.