Intech Investment Management LLC Grows Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Intech Investment Management LLC raised its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 18.6% during the fourth quarter, HoldingsChannel reports. The fund owned 128,816 shares of the company’s stock after buying an additional 20,195 shares during the period. Intech Investment Management LLC’s holdings in Goodyear Tire & Rubber were worth $1,159,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GT. KLCM Advisors Inc. increased its holdings in Goodyear Tire & Rubber by 59.4% in the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock worth $15,934,000 after buying an additional 659,635 shares in the last quarter. Barclays PLC grew its stake in shares of Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after purchasing an additional 598,330 shares during the period. Cibc World Market Inc. grew its stake in shares of Goodyear Tire & Rubber by 72.1% during the 4th quarter. Cibc World Market Inc. now owns 1,408,001 shares of the company’s stock valued at $12,672,000 after purchasing an additional 589,782 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Goodyear Tire & Rubber by 221.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 678,452 shares of the company’s stock valued at $6,004,000 after purchasing an additional 467,107 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Goodyear Tire & Rubber by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock valued at $46,330,000 after purchasing an additional 396,230 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GT shares. 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. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price objective 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Stock Down 1.8 %

NASDAQ GT opened at $9.14 on Friday. The stock’s 50 day moving average is $9.19 and its 200 day moving average is $9.00. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.86. The stock has a market cap of $2.61 billion, a PE ratio of 38.08 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations 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.