American Century Companies Inc. Purchases 1,134,058 Shares of The Goodyear Tire & Rubber Company $GT

Key Points

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American Century Companies Inc. increased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,786,387 shares of the company's stock after purchasing an additional 1,134,058 shares during the period. American Century Companies Inc. owned approximately 3.78% of Goodyear Tire & Rubber worth $99,666,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GT. GAMMA Investing LLC boosted its holdings in Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after acquiring an additional 1,674 shares during the period. UMB Bank n.a. boosted its holdings in Goodyear Tire & Rubber by 125.9% during the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after acquiring an additional 1,748 shares during the period. Cloud Capital Management LLC bought a new stake in Goodyear Tire & Rubber during the first quarter valued at about $33,000. Farther Finance Advisors LLC boosted its holdings in Goodyear Tire & Rubber by 1,799.1% during the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock valued at $37,000 after acquiring an additional 3,868 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Goodyear Tire & Rubber during the fourth quarter valued at about $46,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT traded up $0.40 during mid-day trading on Friday, hitting $8.65. The company's stock had a trading volume of 9,535,911 shares, compared to its average volume of 9,518,539. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.03. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 0.73 and a beta of 1.37. The stock has a fifty day moving average of $10.21 and a 200-day moving average of $10.08.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the company earned $0.19 EPS. The business's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GT shares. HSBC restated a "hold" rating and set a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday. Hsbc Global Res lowered shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. BNP Paribas Exane reaffirmed a "neutral" rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of "Moderate Buy" and an average target price of $12.25.

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.