Proficio Capital Partners LLC Buys Shares of 23,634 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Proficio Capital Partners LLC purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,634 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp raised its position in Goodyear Tire & Rubber by 5.2% during the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after acquiring an additional 1,115 shares in the last quarter. Barclays PLC increased its stake in shares of Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after purchasing an additional 598,330 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after purchasing an additional 86,227 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Goodyear Tire & Rubber by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company’s stock valued at $33,648,000 after purchasing an additional 205,629 shares during the last quarter. Finally, FMR LLC boosted its holdings in Goodyear Tire & Rubber by 28.1% in the third quarter. FMR LLC now owns 842,822 shares of the company’s stock worth $7,459,000 after purchasing an additional 184,770 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Goodyear Tire & Rubber Trading Down 4.5 %

Shares of GT stock opened at $9.11 on Friday. 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 fifty day moving average of $9.20 and a 200-day moving average of $9.03. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.86. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 37.96 and a beta of 1.71.

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