The Goodyear Tire & Rubber Company $GT Position Lifted by Cetera Investment Advisers

Cetera Investment Advisers increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 82.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,954 shares of the company’s stock after purchasing an additional 65,012 shares during the period. Cetera Investment Advisers owned 0.05% of Goodyear Tire & Rubber worth $1,493,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC acquired a new position in Goodyear Tire & Rubber in the second quarter valued at approximately $26,000. Ameritas Advisory Services LLC bought a new position in Goodyear Tire & Rubber during the 2nd quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its stake in Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after buying an additional 2,726 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Goodyear Tire & Rubber in the 2nd quarter worth approximately $31,000. Finally, Signaturefd LLC grew its position in Goodyear Tire & Rubber by 125.6% in the second quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock worth $47,000 after buying an additional 2,510 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 0.1%

Shares of NASDAQ:GT opened at $8.67 on Tuesday. The company has a market capitalization of $2.48 billion, a PE ratio of 6.11, a P/E/G ratio of 2.35 and a beta of 1.32. The Goodyear Tire & Rubber Company has a 52 week low of $6.51 and a 52 week high of $12.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The company’s fifty day moving average is $7.52 and its 200-day moving average is $9.15.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.12. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.67 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. Equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GT has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. HSBC reaffirmed a “hold” rating and set a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. Morgan Stanley boosted their price target on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. decreased their target price on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.85.

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.