American Century Companies Inc. Purchases 897,463 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

American Century Companies Inc. boosted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,652,329 shares of the company’s stock after acquiring an additional 897,463 shares during the quarter. American Century Companies Inc.’s holdings in Goodyear Tire & Rubber were worth $86,871,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Goodyear Tire & Rubber during the 3rd quarter valued at about $545,000. Intech Investment Management LLC raised its holdings in shares of Goodyear Tire & Rubber by 190.4% during the third quarter. Intech Investment Management LLC now owns 108,621 shares of the company’s stock valued at $961,000 after purchasing an additional 71,217 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Goodyear Tire & Rubber by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock valued at $31,267,000 after purchasing an additional 252,960 shares during the period. Citigroup Inc. boosted its holdings in Goodyear Tire & Rubber by 66.7% in the third quarter. Citigroup Inc. now owns 491,990 shares of the company’s stock worth $4,354,000 after purchasing an additional 196,788 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Goodyear Tire & Rubber in the 3rd quarter worth approximately $122,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $9.46 on Tuesday. The business has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $9.02. 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 52 week low of $7.27 and a 52 week high of $13.86. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 39.42 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

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

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.