Janney Montgomery Scott LLC Buys Shares of 38,765 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Janney Montgomery Scott LLC purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,765 shares of the company's stock, valued at approximately $349,000.

Other hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC increased its position in Goodyear Tire & Rubber by 2,122.5% during the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company's stock valued at $35,000 after acquiring an additional 3,778 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber during the third quarter valued at $45,000. Private Trust Co. NA increased its position in Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company's stock valued at $62,000 after acquiring an additional 3,700 shares during the last quarter. AM Squared Ltd purchased a new stake in Goodyear Tire & Rubber during the third quarter valued at $92,000. Finally, Apollon Wealth Management LLC purchased a new stake in Goodyear Tire & Rubber during the third quarter valued at $92,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $13.30.

Goodyear Tire & Rubber Trading Up 17.3 %

Shares of NASDAQ GT traded up $1.41 during midday trading on Friday, hitting $9.58. The company's stock had a trading volume of 21,664,806 shares, compared to its average volume of 5,431,881. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The business's 50 day moving average is $9.03 and its two-hundred day moving average is $8.89. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.86. The firm has a market cap of $2.73 billion, a P/E ratio of -9.21 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. As a group, equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.05 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.