Newbridge Financial Services Group Inc. Invests $28,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Newbridge Financial Services Group Inc. purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,968 shares of the company’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds also recently modified their holdings of GT. Wellington Management Group LLP bought a new position in shares of Goodyear Tire & Rubber in the third quarter worth $125,650,000. Norges Bank bought a new position in Goodyear Tire & Rubber during the fourth quarter valued at about $66,842,000. Electron Capital Partners LLC bought a new position in Goodyear Tire & Rubber during the third quarter valued at about $51,031,000. One Fin Capital Management LP bought a new position in Goodyear Tire & Rubber during the third quarter valued at about $15,600,000. Finally, American Century Companies Inc. boosted its stake in Goodyear Tire & Rubber by 24.9% during the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock valued at $59,348,000 after buying an additional 953,047 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the subject of several research reports. HSBC decreased their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley initiated coverage on Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 target price for the company. Finally, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $11.24 on Wednesday. The Goodyear Tire & Rubber Company has a 12 month low of $11.23 and a 12 month high of $16.50. The company has a quick ratio of 0.60, a current ratio of 1.15 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $12.24 and a 200-day simple moving average of $12.99.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, May 6th. The company reported $0.10 EPS for the quarter. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business posted ($0.29) earnings per share. Goodyear Tire & Rubber’s revenue was down 8.9% compared to the same quarter last year. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.27 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.