Cerity Partners LLC Buys New Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Cerity Partners LLC purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,926 shares of the company’s stock, valued at approximately $156,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GT. Headinvest LLC acquired a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $34,000. CWM LLC increased its stake in shares of Goodyear Tire & Rubber by 26.4% during the third quarter. CWM LLC now owns 4,644 shares of the company’s stock worth $58,000 after purchasing an additional 971 shares in the last quarter. American Trust acquired a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth about $140,000. Pathstone Family Office LLC purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $141,000. Finally, Advisor Partners II LLC boosted its holdings in Goodyear Tire & Rubber by 8.9% in the 3rd quarter. Advisor Partners II LLC now owns 13,743 shares of the company’s stock worth $171,000 after buying an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 1.3 %

Shares of NASDAQ GT opened at $11.96 on Wednesday. The Goodyear Tire & Rubber Company has a 12-month low of $10.12 and a 12-month high of $16.50. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.40 billion, a PE ratio of -4.96 and a beta of 1.85. The company has a 50-day moving average of $12.50 and a 200 day moving average of $13.17.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.11. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same period in the prior year, the business earned $0.07 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.