Barnett & Company Inc. Increases Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Barnett & Company Inc. lifted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,400 shares of the company’s stock after acquiring an additional 15,600 shares during the quarter. Barnett & Company Inc.’s holdings in Goodyear Tire & Rubber were worth $835,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GT. Covestor Ltd raised its holdings in Goodyear Tire & Rubber by 33.6% in the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock valued at $70,000 after buying an additional 1,284 shares during the period. Texas Permanent School Fund Corp boosted its position in Goodyear Tire & Rubber by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after acquiring an additional 1,475 shares during the period. Arizona State Retirement System boosted its holdings in shares of Goodyear Tire & Rubber by 2.1% in the second quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock worth $903,000 after buying an additional 1,621 shares during the period. Innealta Capital LLC raised its holdings in shares of Goodyear Tire & Rubber by 12.2% during the 1st quarter. Innealta Capital LLC now owns 15,261 shares of the company’s stock valued at $210,000 after purchasing an additional 1,654 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Goodyear Tire & Rubber by 5.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock valued at $495,000 after purchasing an additional 1,925 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

GT traded down $0.14 during trading on Tuesday, reaching $9.63. 846,333 shares of the company were exchanged, compared to its average volume of 4,295,389. The company’s 50-day moving average is $8.40 and its two-hundred day moving average is $10.13. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -9.39 and a beta of 1.69. The company has a quick ratio of 0.54, a current ratio of 1.14 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Research analysts forecast that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.23.

About Goodyear Tire & Rubber

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.