UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 93,158 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 642,347 shares of the company's stock after buying an additional 93,158 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.23% of Goodyear Tire & Rubber worth $5,781,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Goodyear Tire & Rubber during the 4th quarter valued at approximately $39,626,000. Maple Rock Capital Partners Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $16,875,000. Atlantic Investment Management Inc. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $11,803,000. American Century Companies Inc. raised its holdings 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 during the period. Finally, Greenvale Capital LLP purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at $6,750,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GT. TD Cowen started coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. Finally, BNP Paribas raised Goodyear Tire & Rubber to a "hold" rating in a research note on Saturday, May 24th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Goodyear Tire & Rubber Price Performance

Shares of GT stock traded down $0.30 on Thursday, reaching $10.76. The company had a trading volume of 3,937,436 shares, compared to its average volume of 5,399,988. The stock has a market capitalization of $3.07 billion, a PE ratio of 44.88 and a beta of 1.42. The business's 50-day moving average is $10.43 and its 200 day moving average is $9.70. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $12.58.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. Goodyear Tire & Rubber's revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.