IPG Investment Advisors LLC Has $21.74 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

IPG Investment Advisors LLC boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,415,215 shares of the company's stock after buying an additional 418,855 shares during the quarter. Goodyear Tire & Rubber makes up about 4.9% of IPG Investment Advisors LLC's portfolio, making the stock its 4th biggest position. IPG Investment Advisors LLC owned about 0.85% of Goodyear Tire & Rubber worth $21,737,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GT. American Century Companies Inc. boosted its stake in shares of Goodyear Tire & Rubber by 10.3% during the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock worth $86,871,000 after buying an additional 897,463 shares during the last quarter. Geode Capital Management LLC boosted its position in Goodyear Tire & Rubber by 1.2% during the third 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 during the last quarter. Victory Capital Management Inc. grew its stake in Goodyear Tire & Rubber by 8.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock valued at $46,330,000 after purchasing an additional 396,230 shares in the last quarter. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $39,626,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Goodyear Tire & Rubber by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock worth $33,648,000 after purchasing an additional 205,629 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

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Goodyear Tire & Rubber Stock Performance

Shares of GT stock traded up $1.38 during midday trading on Thursday, hitting $10.50. 12,712,839 shares of the company were exchanged, compared to its average volume of 4,745,270. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.78. The firm has a market capitalization of $2.99 billion, a P/E ratio of 43.75 and a beta of 1.49. The firm's 50 day moving average price is $9.18 and its two-hundred day moving average price is $9.08. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

GT has been the subject of several analyst reports. Argus raised shares of 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 research report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price for the company in a research note on Monday. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.78.

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.