The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,940 shares of the company’s stock after purchasing an additional 18,511 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Goodyear Tire & Rubber were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth $39,626,000. American Century Companies Inc. increased its stake in shares of Goodyear Tire & Rubber by 10.3% during the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after purchasing an additional 897,463 shares in the last quarter. KLCM Advisors Inc. raised its position in shares of Goodyear Tire & Rubber by 59.4% during the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock worth $15,934,000 after purchasing an additional 659,635 shares during the last quarter. Marshall Wace LLP lifted its stake in Goodyear Tire & Rubber by 883.9% in the 4th quarter. Marshall Wace LLP now owns 716,414 shares of the company’s stock valued at $6,448,000 after buying an additional 643,597 shares in the last quarter. Finally, Barclays PLC lifted its stake 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 in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GT. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Monday, March 31st. TD Cowen started coverage on shares of 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. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and a consensus target price of $13.25.

Goodyear Tire & Rubber Price Performance

GT stock opened at $10.94 on Friday. The business’s 50-day moving average is $9.71 and its two-hundred day moving average is $9.41. 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 firm has a market capitalization of $3.12 billion, a P/E ratio of 45.59 and a beta of 1.42. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share 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.