American Century Companies Inc. Buys 816,703 Shares of The Goodyear Tire & Rubber Company $GT

American Century Companies Inc. grew its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,457,220 shares of the company’s stock after buying an additional 816,703 shares during the period. American Century Companies Inc. owned approximately 4.35% of Goodyear Tire & Rubber worth $93,180,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of Goodyear Tire & Rubber by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after acquiring an additional 1,011 shares during the period. State of Michigan Retirement System raised its stake in shares of Goodyear Tire & Rubber by 1.9% in the 2nd quarter. State of Michigan Retirement System now owns 68,726 shares of the company’s stock valued at $713,000 after purchasing an additional 1,300 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Goodyear Tire & Rubber by 0.7% in the second quarter. Retirement Systems of Alabama now owns 349,195 shares of the company’s stock valued at $3,621,000 after purchasing an additional 2,347 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Goodyear Tire & Rubber by 2.1% in the second quarter. Amalgamated Bank now owns 125,662 shares of the company’s stock valued at $1,303,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Goodyear Tire & Rubber by 23.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,060 shares of the company’s stock worth $156,000 after buying an additional 2,855 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the topic of several analyst reports. Citigroup boosted their price target on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Morgan Stanley lifted their price objective on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Finally, Zacks Research cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus price target of $10.83.

Goodyear Tire & Rubber Stock Down 4.1%

Shares of NASDAQ:GT opened at $7.91 on Wednesday. The business’s 50 day moving average is $9.16 and its 200 day moving average is $8.41. The Goodyear Tire & Rubber Company has a 12-month low of $6.51 and a 12-month high of $12.03. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 0.35 and a beta of 1.12. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.57.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.