The Goodyear Tire & Rubber Company (NASDAQ:GT) is IPG Investment Advisors LLC’s 4th Largest Position

IPG Investment Advisors LLC grew its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 21.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,415,215 shares of the company’s stock after acquiring an additional 418,855 shares during the quarter. Goodyear Tire & Rubber comprises about 4.9% of IPG Investment Advisors LLC’s holdings, making the stock its 4th largest position. IPG Investment Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $21,737,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Allworth Financial LP lifted its position in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after acquiring an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Goodyear Tire & Rubber during the third quarter worth $45,000. Signaturefd LLC lifted 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. acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $54,000. Finally, Private Trust Co. NA grew its stake in Goodyear Tire & Rubber by 110.4% during the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after buying an additional 3,700 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Finally, TD Cowen started coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.18.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.79 on Friday. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.78. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The company has a market cap of $2.51 billion, a PE ratio of 36.63 and a beta of 1.71. The company’s 50 day moving average is $9.19 and its 200 day moving average is $9.05.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data 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. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. On average, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 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.