Victory Capital Management Inc. Boosts Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Victory Capital Management Inc. boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,147,744 shares of the company’s stock after purchasing an additional 396,230 shares during the period. Victory Capital Management Inc. owned approximately 1.81% of Goodyear Tire & Rubber worth $46,330,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Barclays PLC boosted its holdings in Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after buying an additional 598,330 shares in the last quarter. Truist Financial Corp raised its position in shares of Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after acquiring an additional 1,115 shares during the period. Geode Capital Management LLC boosted its stake in shares of Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after acquiring an additional 86,227 shares in the last quarter. FMR LLC grew its position in shares of Goodyear Tire & Rubber by 28.1% during the 3rd quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after acquiring an additional 184,770 shares during the period. Finally, Landscape Capital Management L.L.C. increased its stake in shares of Goodyear Tire & Rubber by 69.5% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 142,790 shares of the company’s stock valued at $1,264,000 after purchasing an additional 58,526 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

GT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, February 18th. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research report on Friday. They set a “buy” rating and a $14.00 price objective for the company. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Up 9.1 %

Shares of GT opened at $9.79 on Friday. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.86. 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 stock has a fifty day simple moving average of $9.11 and a two-hundred day simple moving average of $8.97. The company has a market capitalization of $2.79 billion, a PE ratio of 40.79 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data 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 firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current 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.