Inspire Advisors LLC Boosts Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Inspire Advisors LLC raised its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 34.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,349 shares of the company’s stock after acquiring an additional 6,503 shares during the period. Inspire Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Newbridge Financial Services Group Inc. acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $54,000. Private Trust Co. NA increased its position in Goodyear Tire & Rubber by 110.4% during the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after purchasing an additional 3,700 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $79,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on GT. TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 target price on the stock. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. 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 report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $9.30 on Thursday. The business’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $8.98. The stock has a market cap of $2.65 billion, a PE ratio of 38.75 and a beta of 1.71. 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 one year low of $7.27 and a one year high of $13.86.

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

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.