First Trust Advisors LP Increases Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

First Trust Advisors LP increased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 27.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 408,504 shares of the company’s stock after purchasing an additional 86,814 shares during the quarter. First Trust Advisors LP’s holdings in Goodyear Tire & Rubber were worth $3,677,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its position in shares of Goodyear Tire & Rubber by 3.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 217,777 shares of the company’s stock worth $1,959,000 after purchasing an additional 8,071 shares in the last quarter. Marshall Wace LLP grew its stake in Goodyear Tire & Rubber by 883.9% during the 4th quarter. Marshall Wace LLP now owns 716,414 shares of the company’s stock worth $6,448,000 after buying an additional 643,597 shares during the last quarter. PEAK6 LLC acquired a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $290,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $349,000. Finally, AGP Franklin LLC acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $885,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $11.01 on Friday. The company has a market capitalization of $3.14 billion, a P/E ratio of 45.88 and a beta of 1.49. The business’s 50-day moving average is $9.57 and its two-hundred day moving average is $9.34. 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 Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GT shares. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. TD Cowen began 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. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Friday. Finally, 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. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and a consensus target price of $13.78.

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.