Allworth Financial LP Raises Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Allworth Financial LP increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 251.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,274 shares of the company’s stock after buying an additional 3,059 shares during the period. Allworth Financial LP’s holdings in Goodyear Tire & Rubber were worth $40,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GT. Fidelity D & D Bancorp Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 3.2% in the third quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock valued at $283,000 after acquiring an additional 1,000 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Goodyear Tire & Rubber by 4.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company’s stock worth $306,000 after acquiring an additional 1,434 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its position in Goodyear Tire & Rubber by 6.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 38,050 shares of the company’s stock worth $336,000 after acquiring an additional 2,195 shares in the last quarter. State of Alaska Department of Revenue raised its position in Goodyear Tire & Rubber by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock worth $290,000 after acquiring an additional 2,245 shares in the last quarter. Finally, Forum Financial Management LP increased its position in shares of Goodyear Tire & Rubber by 29.4% in the third quarter. Forum Financial Management LP now owns 13,457 shares of the company’s stock valued at $119,000 after buying an additional 3,058 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GT shares. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, February 18th. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.98.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock opened at $9.54 on Wednesday. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.86. 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 firm has a market capitalization of $2.72 billion, a PE ratio of 39.75 and a beta of 1.79. The stock’s 50 day moving average price is $9.05 and its 200 day moving average price is $8.93.

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

Goodyear Tire & Rubber 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.