Summit Investment Advisors Inc. Has $795,000 Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Summit Investment Advisors Inc. grew its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,280 shares of the company’s stock after buying an additional 1,709 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Goodyear Tire & Rubber were worth $795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP boosted its stake in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after purchasing an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Goodyear Tire & Rubber during the third quarter worth $45,000. Signaturefd LLC raised its position in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after buying an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $79,000. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Price Performance

GT opened at $9.75 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 40.63 and a beta of 1.49. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average price of $9.32 and a 200-day moving average price of $9.17. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.26.

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

Wall Street Analyst Weigh In

GT has been the topic of several analyst reports. Argus upgraded shares of 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. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, March 31st. 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 for the company. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

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.