Fruth Investment Management lessened its position in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 8.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,200 shares of the company’s stock after selling 2,000 shares during the quarter. Fruth Investment Management’s holdings in Goodyear Tire & Rubber were worth $684,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in GT. Benjamin F. Edwards & Company Inc. lifted its position in Goodyear Tire & Rubber by 143.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after acquiring an additional 2,682 shares during the period. Schroder Investment Management Group acquired a new stake in Goodyear Tire & Rubber during the 2nd quarter worth approximately $160,000. Dynamic Technology Lab Private Ltd acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $205,000. Pacer Advisors Inc. lifted its position in Goodyear Tire & Rubber by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 5,883 shares of the company’s stock worth $206,000 after acquiring an additional 457 shares during the period. Finally, Westover Capital Advisors LLC lifted its position in Goodyear Tire & Rubber by 5.7% during the 2nd quarter. Westover Capital Advisors LLC now owns 6,139 shares of the company’s stock worth $215,000 after acquiring an additional 330 shares during the period. Hedge funds and other institutional investors own 94.64% of the company’s stock.
In other news, SVP Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $32.12, for a total value of $240,900.00. Following the completion of the sale, the senior vice president now directly owns 51,848 shares of the company’s stock, valued at approximately $1,665,357.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.
A number of research firms have weighed in on GT. Zacks Investment Research raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Citigroup cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $36.00 in a research report on Monday, October 30th. Jefferies Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of Goodyear Tire & Rubber in a research report on Thursday, October 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $37.70.
Goodyear Tire & Rubber Co (GT) traded up $0.29 on Tuesday, hitting $33.13. The stock had a trading volume of 2,188,600 shares, compared to its average volume of 3,402,100. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12. The firm has a market cap of $8,380.00, a PE ratio of 8.56, a P/E/G ratio of 0.71 and a beta of 1.53. Goodyear Tire & Rubber Co has a 1-year low of $28.81 and a 1-year high of $37.20.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. sell-side analysts expect that Goodyear Tire & Rubber Co will post 2.88 EPS for the current fiscal year.
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About Goodyear Tire & Rubber
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.
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