132,620 The Goodyear Tire & Rubber Company $GT Shares Bought by IPG Investment Advisors LLC

IPG Investment Advisors LLC increased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 20.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 783,915 shares of the company’s stock after buying an additional 132,620 shares during the period. IPG Investment Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $3,896,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Nykredit A S purchased a new position in Goodyear Tire & Rubber during the second quarter worth approximately $27,000. Versant Capital Management Inc increased its holdings in shares of Goodyear Tire & Rubber by 190.1% during the 3rd quarter. Versant Capital Management Inc now owns 5,349 shares of the company’s stock worth $27,000 after buying an additional 3,505 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Goodyear Tire & Rubber by 656.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after buying an additional 5,248 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth $50,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GT has been the topic of a number of research analyst reports. Zacks Research cut Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $8.06.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock opened at $4.44 on Wednesday. The Goodyear Tire & Rubber Company has a 52 week low of $4.09 and a 52 week high of $10.62. The company has a current ratio of 1.09, a quick ratio of 0.55 and a debt-to-equity ratio of 1.92. The stock has a market cap of $1.28 billion, a P/E ratio of -0.50 and a beta of 1.22. The stock has a 50 day moving average of $5.06 and a 200-day moving average of $6.62.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.02. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.19 billion. Goodyear Tire & Rubber had a negative net margin of 14.37% and a negative return on equity of 2.95%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, analysts expect that The Goodyear Tire & Rubber Company will post -1.03 EPS for the current fiscal year.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Company is a global tire manufacturer headquartered in Akron, Ohio. Founded in 1898, the company develops, produces, markets and distributes tires and related products for passenger vehicles, commercial trucks, aircraft, motorcycles, agricultural equipment and off-road vehicles.

Goodyear serves consumer, commercial and original-equipment customers through a portfolio that includes Goodyear and other regional and market-specific brands. Its offerings include replacement tires, tires supplied to vehicle manufacturers, retreading products and related solutions designed to support vehicle performance, safety and efficiency.

In addition to manufacturing, Goodyear operates tire and automotive service locations and provides fleet-management, maintenance and other mobility-related services for commercial customers.