Harbour Investments Inc. Has $79,000 Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Harbour Investments Inc. increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 19.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,754 shares of the company’s stock after acquiring an additional 1,399 shares during the period. Harbour Investments Inc.’s holdings in Goodyear Tire & Rubber were worth $79,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Goodyear Tire & Rubber during the third quarter worth $545,000. Intech Investment Management LLC increased its holdings in shares of Goodyear Tire & Rubber by 190.4% during the 3rd quarter. Intech Investment Management LLC now owns 108,621 shares of the company’s stock valued at $961,000 after acquiring an additional 71,217 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Goodyear Tire & Rubber by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock valued at $31,267,000 after acquiring an additional 252,960 shares in the last quarter. Citigroup Inc. lifted its holdings in Goodyear Tire & Rubber by 66.7% in the 3rd quarter. Citigroup Inc. now owns 491,990 shares of the company’s stock worth $4,354,000 after purchasing an additional 196,788 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Goodyear Tire & Rubber during the third quarter worth approximately $122,000. Institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, February 18th. 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 target for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.18.

Goodyear Tire & Rubber Stock Down 1.8 %

Shares of GT opened at $9.14 on Monday. 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 company has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $9.01. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.86. The firm has a market capitalization of $2.61 billion, a P/E ratio of 38.08 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS 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 firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. On average, equities research analysts expect 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.