AGP Franklin LLC Makes New $885,000 Investment in The Goodyear Tire & Rubber Company (NASDAQ:GT)

AGP Franklin LLC purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 98,344 shares of the company’s stock, valued at approximately $885,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GT. Allworth Financial LP lifted its holdings in shares of Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after purchasing an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber during the third quarter valued at about $45,000. Signaturefd LLC boosted its holdings in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $79,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Trading Down 2.3 %

NASDAQ:GT opened at $9.45 on Tuesday. The company has a market capitalization of $2.69 billion, a P/E ratio of 39.38 and a beta of 1.49. The stock’s 50 day moving average price is $9.24 and its 200 day moving average price is $9.16. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.26.

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

Analyst Ratings Changes

GT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, March 31st. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a “buy” rating and a $14.00 price target for the company. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.78.

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.