New Age Alpha Advisors LLC Invests $385,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

New Age Alpha Advisors LLC acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 42,738 shares of the company’s stock, valued at approximately $385,000.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth $39,626,000. EntryPoint Capital LLC acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth about $104,000. Barnett & Company Inc. increased its stake in shares of Goodyear Tire & Rubber by 1.4% during the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock worth $861,000 after buying an additional 1,300 shares during the period. LPL Financial LLC raised its holdings in Goodyear Tire & Rubber by 1.5% in the fourth quarter. LPL Financial LLC now owns 216,766 shares of the company’s stock valued at $1,951,000 after acquiring an additional 3,123 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Goodyear Tire & Rubber in the fourth quarter worth approximately $482,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Down 3.2 %

GT opened at $8.94 on Wednesday. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.78. 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 stock has a market capitalization of $2.55 billion, a P/E ratio of 37.25 and a beta of 1.71. The business’s 50-day simple moving average is $9.18 and its 200-day simple moving average is $9.08.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The company 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%. Analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen initiated 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 on the stock. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, February 18th. 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. Finally, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research 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 stock. According to MarketBeat, the stock has a consensus 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.