GABELLI & Co INVESTMENT ADVISERS INC. Makes New Investment in The Goodyear Tire & Rubber Company (NASDAQ:GT)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,800 shares of the company's stock, valued at approximately $349,000.

A number of other hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after purchasing an additional 1,115 shares in the last quarter. Amalgamated Bank raised its holdings in Goodyear Tire & Rubber by 0.9% during the 4th quarter. Amalgamated Bank now owns 127,390 shares of the company's stock worth $1,147,000 after buying an additional 1,156 shares during the period. Sanctuary Advisors LLC lifted its stake in Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock valued at $110,000 after buying an additional 1,209 shares in the last quarter. Barnett & Company Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 1.4% in the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock valued at $861,000 after buying an additional 1,300 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of Goodyear Tire & Rubber by 19.0% during the fourth quarter. Harbour Investments Inc. now owns 8,754 shares of the company's stock worth $79,000 after acquiring an additional 1,399 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GT shares. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research note on Tuesday, February 18th. Finally, TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 price target for the company. 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.78.

Goodyear Tire & Rubber Stock Up 2.1 %

GT traded up $0.20 on Monday, hitting $9.95. 1,422,759 shares of the company were exchanged, compared to its average volume of 6,099,057. The company has a market cap of $2.84 billion, a PE ratio of 41.46 and a beta of 1.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.26. The stock's fifty day moving average is $9.35 and its 200-day moving average is $9.19.

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