American Century Companies Inc. Grows Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

American Century Companies Inc. increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,652,329 shares of the company’s stock after buying an additional 897,463 shares during the quarter. American Century Companies Inc. owned 3.39% of Goodyear Tire & Rubber worth $86,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after buying an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber during the third quarter valued at approximately $45,000. Signaturefd LLC raised its holdings in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after acquiring an additional 1,997 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Goodyear Tire & Rubber in the fourth quarter worth $54,000. Finally, Private Trust Co. NA boosted its holdings in Goodyear Tire & Rubber by 110.4% in the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock valued at $62,000 after acquiring an additional 3,700 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 price target for the company. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three 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 stock. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $9.46 on Tuesday. The company has a 50 day simple moving average of $9.20 and a two-hundred day simple moving average of $9.02. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.86. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 39.42 and a beta of 1.71. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. Analysts expect 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.