Barnett & Company Inc. Raises Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Barnett & Company Inc. lifted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,700 shares of the company’s stock after buying an additional 1,300 shares during the quarter. Barnett & Company Inc.’s holdings in Goodyear Tire & Rubber were worth $861,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after buying an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter worth about $45,000. Signaturefd LLC lifted its stake in shares of Goodyear Tire & Rubber by 61.2% during 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. purchased a new stake in Goodyear Tire & Rubber during the 4th quarter valued at about $54,000. Finally, Private Trust Co. NA increased its holdings in Goodyear Tire & Rubber by 110.4% in the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after buying an additional 3,700 shares during the period. 84.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GT. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and an average price target of $13.18.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock opened at $9.14 on Monday. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.86. The business’s fifty day moving average price is $9.19 and its 200 day moving average price is $9.01. The stock has a market capitalization of $2.61 billion, a P/E ratio of 38.08 and a beta of 1.71. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion for 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%. As a group, research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

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.