Invesco Ltd. Acquires 272,771 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Invesco Ltd. increased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 13.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,261,513 shares of the company's stock after purchasing an additional 272,771 shares during the period. Invesco Ltd. owned 0.79% of Goodyear Tire & Rubber worth $20,354,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GT. Allworth Financial LP increased its position in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after purchasing an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter valued at $45,000. Signaturefd LLC lifted its holdings in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber in the fourth quarter worth $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at $79,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GT. StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research note on Tuesday, February 18th. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a research report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.78.

Goodyear Tire & Rubber Trading Up 1.8 %

Shares of GT stock traded up $0.18 during trading hours on Monday, reaching $9.93. The company's stock had a trading volume of 4,635,628 shares, compared to its average volume of 5,044,791. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $2.83 billion, a P/E ratio of 41.38 and a beta of 1.49. The firm's fifty day simple moving average is $9.38 and its 200 day simple moving average is $9.20. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.91 billion. Equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current 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.