Cetera Investment Advisers Has $622,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Cetera Investment Advisers lifted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 22.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,056 shares of the company’s stock after purchasing an additional 12,737 shares during the period. Cetera Investment Advisers’ holdings in Goodyear Tire & Rubber were worth $622,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GT. Allworth Financial LP lifted its holdings in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after purchasing an additional 3,059 shares during the last quarter. Signaturefd LLC raised its position in shares of Goodyear Tire & Rubber by 61.2% in the fourth 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 period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $54,000. Transce3nd LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $79,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on GT shares. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Wall Street Zen lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Saturday, May 10th. TD Cowen assumed coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Goodyear Tire & Rubber Trading Down 1.6%

Shares of GT stock opened at $10.95 on Tuesday. The stock has a market cap of $3.13 billion, a P/E ratio of 45.63 and a beta of 1.42. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $12.58. 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 stock has a 50 day simple moving average of $10.14 and a 200 day simple moving average of $9.61.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share 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.