The Goodyear Tire & Rubber Company $GT Shares Acquired by American Century Companies Inc.

Key Points

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American Century Companies Inc. grew its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 11.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 1,674 shares during the period. UMB Bank n.a. increased its stake in shares of Goodyear Tire & Rubber by 125.9% in the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after buying an additional 1,748 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Goodyear Tire & Rubber in the first quarter worth $33,000. Farther Finance Advisors LLC increased its stake in shares of Goodyear Tire & Rubber by 1,799.1% in the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after buying an additional 3,868 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Wall Street Analyst Weigh In

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

Goodyear Tire & Rubber Stock Performance

Shares of GT traded up $0.3890 during midday trading on Friday, hitting $8.6390. 7,814,770 shares of the stock traded hands, compared to its average volume of 6,544,333. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $12.03. The firm has a market capitalization of $2.47 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The business's 50 day moving average price is $10.26 and its two-hundred day moving average price is $10.08.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced 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 net margin of 2.22% and a return on equity of 3.17%. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the firm posted $0.19 EPS. The business's revenue was down 2.3% compared to the same quarter last year. Equities research analysts predict 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.