Mirae Asset Global Investments Co. Ltd. Raises Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,763 shares of the company’s stock after purchasing an additional 4,163 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Goodyear Tire & Rubber were worth $1,815,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at $125,650,000. Assenagon Asset Management S.A. lifted its stake in Goodyear Tire & Rubber by 880.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock worth $8,178,000 after acquiring an additional 512,875 shares during the period. Aigen Investment Management LP purchased a new stake in Goodyear Tire & Rubber in the third quarter worth about $207,000. American Century Companies Inc. lifted its stake in Goodyear Tire & Rubber by 24.9% in the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock worth $59,348,000 after acquiring an additional 953,047 shares during the period. Finally, Deutsche Bank AG lifted its stake in Goodyear Tire & Rubber by 14.4% in the third quarter. Deutsche Bank AG now owns 135,940 shares of the company’s stock worth $1,690,000 after acquiring an additional 17,093 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.16.

Goodyear Tire & Rubber Stock Up 1.5 %

NASDAQ:GT opened at $11.88 on Friday. The Goodyear Tire & Rubber Company has a 1-year low of $10.12 and a 1-year high of $16.50. The company has a 50-day moving average of $12.55 and a 200 day moving average of $13.17. The firm has a market cap of $3.37 billion, a PE ratio of -4.93 and a beta of 1.85. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.07 and a quick ratio of 0.55.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.11. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.38 billion. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.