Cetera Investment Advisers Purchases 65,012 Shares of The Goodyear Tire & Rubber Company $GT

Cetera Investment Advisers boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 82.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 143,954 shares of the company’s stock after buying an additional 65,012 shares during the quarter. Cetera Investment Advisers’ holdings in Goodyear Tire & Rubber were worth $1,493,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Creative Planning grew its position in shares of Goodyear Tire & Rubber by 20.2% during the 2nd quarter. Creative Planning now owns 97,783 shares of the company’s stock worth $1,014,000 after buying an additional 16,399 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Goodyear Tire & Rubber by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 73,406 shares of the company’s stock worth $761,000 after buying an additional 5,286 shares during the period. Allworth Financial LP grew its stake in shares of Goodyear Tire & Rubber by 67.9% during the 2nd quarter. Allworth Financial LP now owns 7,433 shares of the company’s stock worth $77,000 after acquiring an additional 3,007 shares in the last quarter. Midwest Trust Co bought a new position in Goodyear Tire & Rubber in the second quarter valued at $347,000. Finally, Monaco Asset Management SAM bought a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at about $726,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GT. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Tuesday, November 25th. HSBC restated a “hold” rating and issued a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. Finally, Hsbc Global Res downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.85.

Goodyear Tire & Rubber Trading Up 0.1%

Shares of GT stock opened at $8.67 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The Goodyear Tire & Rubber Company has a 1-year low of $6.51 and a 1-year high of $12.03. The stock has a 50-day moving average of $7.52 and a 200-day moving average of $9.15. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 2.35 and a beta of 1.32.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The company had revenue of $4.65 billion for 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 quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current 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.