IPG Investment Advisors LLC Increases Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

IPG Investment Advisors LLC increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 21.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,415,215 shares of the company’s stock after buying an additional 418,855 shares during the period. Goodyear Tire & Rubber comprises approximately 4.9% of IPG Investment Advisors LLC’s holdings, making the stock its 4th largest position. IPG Investment Advisors LLC owned 0.85% of Goodyear Tire & Rubber worth $21,737,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its position in shares of Goodyear Tire & Rubber by 251.8% during 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at about $45,000. Signaturefd LLC boosted 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 valued at $47,000 after purchasing an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $54,000. Finally, Private Trust Co. NA increased its holdings in shares of Goodyear Tire & Rubber by 110.4% in the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after purchasing an additional 3,700 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock opened at $8.79 on Friday. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $13.78. The company’s 50-day moving average is $9.19 and its 200 day moving average is $9.05. The firm has a market capitalization of $2.51 billion, a P/E ratio of 36.63 and a beta of 1.71. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

GT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. TD Cowen began 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 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 on the stock in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.18.

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.