1,311,485 Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT) Acquired by Atlantic Investment Management Inc.

Atlantic Investment Management Inc. bought a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 4th quarter, HoldingsChannel reports. The firm bought 1,311,485 shares of the company’s stock, valued at approximately $11,803,000. Goodyear Tire & Rubber accounts for about 5.7% of Atlantic Investment Management Inc.’s investment portfolio, making the stock its 7th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Goodyear Tire & Rubber in the 4th quarter worth approximately $39,626,000. Maple Rock Capital Partners Inc. bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth approximately $16,875,000. American Century Companies Inc. boosted its stake in shares of 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 valued at $86,871,000 after purchasing an additional 897,463 shares in the last quarter. KLCM Advisors Inc. grew its holdings in shares of Goodyear Tire & Rubber by 59.4% during the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock valued at $15,934,000 after purchasing an additional 659,635 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Goodyear Tire & Rubber by 883.9% in the 4th quarter. Marshall Wace LLP now owns 716,414 shares of the company’s stock worth $6,448,000 after purchasing an additional 643,597 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 2.6 %

Shares of NASDAQ:GT opened at $11.01 on Friday. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.26. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The stock’s 50-day moving average is $9.57 and its 200 day moving average is $9.34. The company has a market cap of $3.14 billion, a PE ratio of 45.88 and a beta of 1.42.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

GT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Monday, March 31st. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Friday. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, February 18th. Finally, TD Cowen initiated coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 price objective for the company. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.78.

About Goodyear Tire & Rubber

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.