4WEALTH Advisors Inc. Takes $477,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

4WEALTH Advisors Inc. bought a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 53,015 shares of the company's stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GT. Allworth Financial LP grew its position in 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 acquiring an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth approximately $45,000. Signaturefd LLC increased its position 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 valued at $47,000 after purchasing an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $54,000. Finally, Transce3nd LLC purchased a new position in Goodyear Tire & Rubber during the fourth quarter worth $61,000. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Trading Down 1.4 %

GT opened at $10.73 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The stock's fifty day moving average is $9.54 and its two-hundred day moving average is $9.32. The company has a market capitalization of $3.06 billion, a P/E ratio of 44.71 and a beta of 1.49. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) 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. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Argus upgraded 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 report on Tuesday, February 18th. StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Friday. TD Cowen assumed coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Profile

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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