International Assets Investment Management LLC Invests $298,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

International Assets Investment Management LLC purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,821 shares of the company’s stock, valued at approximately $298,000.

Several other institutional investors have also added to or reduced their stakes in GT. Headinvest LLC bought a new stake in Goodyear Tire & Rubber in the third quarter worth $34,000. CWM LLC raised its stake in shares of Goodyear Tire & Rubber by 26.4% in the third quarter. CWM LLC now owns 4,644 shares of the company’s stock valued at $58,000 after acquiring an additional 971 shares during the period. IFP Advisors Inc raised its stake in shares of Goodyear Tire & Rubber by 37.5% in the third quarter. IFP Advisors Inc now owns 4,897 shares of the company’s stock valued at $61,000 after acquiring an additional 1,336 shares during the period. American Trust bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth about $140,000. Finally, Pathstone Family Office LLC purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth about $141,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT opened at $11.84 on Friday. The company has a market cap of $3.36 billion, a P/E ratio of -4.91 and a beta of 1.85. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41. The firm’s 50-day moving average price is $12.52 and its 200-day moving average price is $13.16. The Goodyear Tire & Rubber Company has a 52-week low of $10.12 and a 52-week high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.11. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.16.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.