Janney Montgomery Scott LLC Has $395,000 Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Janney Montgomery Scott LLC boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 10.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,801 shares of the company’s stock after buying an additional 4,036 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Goodyear Tire & Rubber were worth $395,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GT. GAMMA Investing LLC grew its position in Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after buying an additional 1,674 shares in the last quarter. UMB Bank n.a. lifted its stake in Goodyear Tire & Rubber by 125.9% during the first quarter. UMB Bank n.a. now owns 3,136 shares of the company’s stock worth $29,000 after purchasing an additional 1,748 shares during the period. Farther Finance Advisors LLC lifted its stake in Goodyear Tire & Rubber by 1,799.1% during the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock worth $37,000 after purchasing an additional 3,868 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Goodyear Tire & Rubber during the fourth quarter worth about $46,000. Finally, Signaturefd LLC raised its stake 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 acquiring an additional 1,997 shares during the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Monday, March 31st. TD Cowen assumed 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 for the company. Finally, BNP Paribas Exane upgraded Goodyear Tire & Rubber from a “neutral” rating to an “outperform” rating and set a $15.00 target price for the company in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $14.20.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $11.38 on Friday. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.33 and a beta of 1.35. The business has a 50-day moving average of $10.94 and a 200-day moving average of $9.82. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.22 and a quick ratio of 0.64. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.58.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 5.31% and a net margin of 1.30%. Goodyear Tire & Rubber’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. As a group, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.