Johnson Investment Counsel Inc. Buys New Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Johnson Investment Counsel Inc. purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,302 shares of the company's stock, valued at approximately $308,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Goodyear Tire & Rubber in the fourth quarter worth $39,626,000. Maple Rock Capital Partners Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $16,875,000. Atlantic Investment Management Inc. acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth about $11,803,000. American Century Companies Inc. lifted its position in Goodyear Tire & Rubber by 10.3% during the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock worth $86,871,000 after buying an additional 897,463 shares in the last quarter. Finally, Greenvale Capital LLP bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth about $6,750,000. 84.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

GT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. BNP Paribas upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. BNP Paribas Exane upgraded Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price objective on the stock in a research report on Monday, June 9th. Wall Street Zen cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $14.20.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $10.24 on Monday. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $12.58. The company's fifty day simple moving average is $10.83 and its 200-day simple moving average is $9.76. The firm has a market cap of $2.93 billion, a PE ratio of 12.19, a P/E/G ratio of 0.29 and a beta of 1.40. The company has a quick ratio of 0.64, a current ratio of 1.22 and a debt-to-equity ratio of 1.44.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The firm had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.41 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Company 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.

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