Mirae Asset Global Investments Co. Ltd. Buys 4,163 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Mirae Asset Global Investments Co. Ltd. grew its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 institutional investors also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth about $125,650,000. Assenagon Asset Management S.A. increased its stake in shares of Goodyear Tire & Rubber by 880.5% in the 4th 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 in the last quarter. Aigen Investment Management LP bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth about $207,000. American Century Companies Inc. increased its stake in Goodyear Tire & Rubber by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock valued at $59,348,000 after purchasing an additional 953,047 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Goodyear Tire & Rubber by 14.4% during the 3rd quarter. Deutsche Bank AG now owns 135,940 shares of the company’s stock valued at $1,690,000 after purchasing an additional 17,093 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Up 1.5 %

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

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.11. The firm had revenue of $5.12 billion for 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 business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. Analysts predict that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.16.

About Goodyear Tire & Rubber

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.