Cidel Asset Management Inc. Buys New Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Cidel Asset Management Inc. purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,822 shares of the company’s stock, valued at approximately $97,000.

A number of other large investors have also modified their holdings of GT. Sanctuary Advisors LLC purchased a new stake in Goodyear Tire & Rubber in the second quarter valued at approximately $178,000. Inspire Investing LLC boosted its holdings in shares of Goodyear Tire & Rubber by 50.9% in the 3rd quarter. Inspire Investing LLC now owns 51,799 shares of the company’s stock valued at $458,000 after acquiring an additional 17,476 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Goodyear Tire & Rubber by 2,122.5% in the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after acquiring an additional 3,778 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Goodyear Tire & Rubber during the third quarter worth $649,000. Finally, Inspire Advisors LLC grew its position in Goodyear Tire & Rubber by 28.8% during the 3rd quarter. Inspire Advisors LLC now owns 18,846 shares of the company’s stock worth $167,000 after purchasing an additional 4,209 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $8.40 on Monday. The company has a market capitalization of $2.39 billion, a P/E ratio of -8.08 and a beta of 1.79. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.91. The business’s 50 day moving average is $9.23 and its two-hundred day moving average is $8.97. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51.

Analyst Ratings Changes

GT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.30.

About Goodyear Tire & Rubber

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.