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

Victory Capital Management Inc. raised its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,147,744 shares of the company’s stock after purchasing an additional 396,230 shares during the quarter. Victory Capital Management Inc.’s holdings in Goodyear Tire & Rubber were worth $46,330,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GT. Allworth Financial LP grew its holdings in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after purchasing an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $45,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth $54,000. Private Trust Co. NA increased its position in shares of Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after acquiring an additional 3,700 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $79,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on GT. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. TD Cowen started coverage on Goodyear Tire & Rubber in a research report on Friday. They set a “buy” rating and a $14.00 price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Three investment 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. According to MarketBeat.com, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $9.79 on Friday. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 40.79 and a beta of 1.71. 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 50 day moving average price of $9.11 and a 200 day moving average price of $8.97.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.91 billion. Research analysts predict 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.