UMB Bank n.a. Raises Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

UMB Bank n.a. boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 125.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,136 shares of the company’s stock after acquiring an additional 1,748 shares during the period. UMB Bank n.a.’s holdings in Goodyear Tire & Rubber were worth $29,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $39,626,000. Maple Rock Capital Partners Inc. purchased a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $16,875,000. Atlantic Investment Management Inc. purchased a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $11,803,000. American Century Companies Inc. grew its stake in Goodyear Tire & Rubber by 10.3% in the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after buying an additional 897,463 shares in the last quarter. Finally, Greenvale Capital LLP bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth approximately $6,750,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Monday, March 31st. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber from a “neutral” rating to an “outperform” rating and set a $15.00 price target for the company in a report on Monday, June 9th. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price target for the company. Finally, BNP Paribas upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $14.20.

Goodyear Tire & Rubber Stock Down 2.3%

Shares of Goodyear Tire & Rubber stock opened at $10.94 on Monday. 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 company’s fifty day simple moving average is $10.72 and its two-hundred day simple moving average is $9.77. The company has a market cap of $3.13 billion, a P/E ratio of 45.59 and a beta of 1.40. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $12.58.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. Research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

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.