Newbridge Financial Services Group Inc. Takes Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Newbridge Financial Services Group Inc. acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,968 shares of the company’s stock, valued at approximately $28,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 29,102,067 shares of the company’s stock valued at $416,742,000 after acquiring an additional 576,369 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Goodyear Tire & Rubber by 48.2% in the 4th quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after purchasing an additional 4,870,381 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Goodyear Tire & Rubber by 9.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,180,322 shares of the company’s stock valued at $59,862,000 after purchasing an additional 353,758 shares during the period. Virtu Financial LLC acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $249,000. Finally, Readystate Asset Management LP lifted its stake in shares of Goodyear Tire & Rubber by 3.5% in the 4th quarter. Readystate Asset Management LP now owns 554,270 shares of the company’s stock valued at $7,937,000 after purchasing an additional 18,670 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GT has been the subject of several analyst reports. HSBC decreased their target price on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley assumed coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 target price for the company. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Stock Down 2.5 %

NASDAQ:GT opened at $11.24 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.60 and a current ratio of 1.15. The company has a fifty day moving average of $12.24 and a two-hundred day moving average of $12.99. The Goodyear Tire & Rubber Company has a fifty-two week low of $11.23 and a fifty-two week high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.29) earnings per share. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.27 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Profile

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.