Victory Capital Management Inc. Has $1.34 Million Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Victory Capital Management Inc. boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 11.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,146 shares of the company’s stock after purchasing an additional 12,219 shares during the period. Victory Capital Management Inc.’s holdings in Goodyear Tire & Rubber were worth $1,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber during the fourth quarter valued at approximately $28,000. Family Firm Inc. purchased a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new position in Goodyear Tire & Rubber during the fourth quarter valued at approximately $33,000. Mather Group LLC. grew its position in Goodyear Tire & Rubber by 4,526.3% during the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA purchased a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $40,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.37 on Friday. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. The business has a 50-day moving average of $9.39 and a two-hundred day moving average of $11.23. The stock has a market capitalization of $2.38 billion, a P/E ratio of -3.70 and a beta of 1.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GT has been the topic of a number of research analyst reports. Morgan Stanley assumed coverage on shares of Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price objective on the stock. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a 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 $17.23.

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.