AGP Franklin LLC bought a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 98,344 shares of the company's stock, valued at approximately $885,000.
A number of other institutional investors and hedge funds have also made changes to their positions in GT. Guggenheim Capital LLC boosted its position in shares of Goodyear Tire & Rubber by 57.4% in the 4th quarter. Guggenheim Capital LLC now owns 58,483 shares of the company's stock worth $526,000 after purchasing an additional 21,327 shares in the last quarter. Mariner LLC boosted its stake in Goodyear Tire & Rubber by 27.6% during the fourth quarter. Mariner LLC now owns 32,105 shares of the company's stock worth $289,000 after buying an additional 6,942 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Goodyear Tire & Rubber by 2.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 88,280 shares of the company's stock valued at $795,000 after buying an additional 1,709 shares during the period. Sterling Capital Management LLC lifted its position in shares of Goodyear Tire & Rubber by 815.3% during the fourth quarter. Sterling Capital Management LLC now owns 8,979 shares of the company's stock worth $81,000 after purchasing an additional 7,998 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its stake in Goodyear Tire & Rubber by 10.9% during the 4th quarter. Kennedy Capital Management LLC now owns 622,611 shares of the company's stock worth $5,603,000 after purchasing an additional 61,089 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Price Performance
Shares of NASDAQ GT traded up $0.10 during mid-day trading on Friday, hitting $9.75. 3,576,817 shares of the stock traded hands, compared to its average volume of 5,036,936. The company has a market cap of $2.78 billion, a PE ratio of 40.63 and a beta of 1.49. The firm has a 50 day simple moving average of $9.35 and a two-hundred day simple moving average of $9.18. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.26.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued 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. 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 for the quarter, compared to analysts' expectations of $4.91 billion. As a group, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.
Analyst Ratings Changes
GT has been the subject of several analyst reports. StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Tuesday, February 18th. TD Cowen initiated coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and a consensus target price of $13.78.
View Our Latest Stock Analysis on GT
Goodyear Tire & Rubber Profile
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Free Report)
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.
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