Birmingham Capital Management Co. Inc. AL Has $920,000 Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Birmingham Capital Management Co. Inc. AL trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 28.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 81,075 shares of the company’s stock after selling 31,525 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Goodyear Tire & Rubber were worth $920,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GT. Retirement Systems of Alabama boosted its holdings in shares of Goodyear Tire & Rubber by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 356,065 shares of the company’s stock valued at $4,889,000 after purchasing an additional 935 shares in the last quarter. Covestor Ltd boosted its stake in Goodyear Tire & Rubber by 33.6% in the first quarter. Covestor Ltd now owns 5,108 shares of the company’s stock valued at $70,000 after buying an additional 1,284 shares in the last quarter. Texas Permanent School Fund Corp grew its position in Goodyear Tire & Rubber by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock valued at $2,833,000 after acquiring an additional 1,475 shares during the last quarter. State of Michigan Retirement System raised its stake in Goodyear Tire & Rubber by 2.4% during the first quarter. State of Michigan Retirement System now owns 69,626 shares of the company’s stock worth $956,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Arizona State Retirement System lifted 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 acquiring an additional 1,621 shares during the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GT. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 target price on the stock. Finally, Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and a consensus price target of $17.23.

Goodyear Tire & Rubber Trading Down 1.2 %

GT opened at $8.74 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. The company’s 50 day moving average price is $8.76 and its two-hundred day moving average price is $10.98. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -3.87 and a beta of 1.70.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.10. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. Goodyear Tire & Rubber’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. As a group, research analysts predict that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

Goodyear Tire & Rubber 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.