The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Acquired by KBC Group NV

KBC Group NV grew its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3,912.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 316,186 shares of the company’s stock after purchasing an additional 308,305 shares during the period. KBC Group NV’s holdings in Goodyear Tire & Rubber were worth $2,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GT. Victory Capital Management Inc. grew its position in Goodyear Tire & Rubber by 3,921.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after buying an additional 4,633,368 shares in the last quarter. Barclays PLC boosted its holdings in shares of Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after acquiring an additional 598,330 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Goodyear Tire & Rubber by 30.7% in the second quarter. Millennium Management LLC now owns 2,462,581 shares of the company’s stock valued at $27,950,000 after acquiring an additional 578,762 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Goodyear Tire & Rubber by 13.4% during the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after acquiring an additional 484,198 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Goodyear Tire & Rubber by 221.0% in the third quarter. BNP Paribas Financial Markets now owns 678,452 shares of the company’s stock worth $6,004,000 after purchasing an additional 467,107 shares during the period. 84.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

GT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.30.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $8.87 on Friday. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $14.44. The business’s fifty day moving average is $9.41 and its two-hundred day moving average is $9.13. The stock has a market capitalization of $2.53 billion, a P/E ratio of -8.53 and a beta of 1.80. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.05 earnings per share for the current fiscal 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.