The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC raised its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 50.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,799 shares of the company’s stock after purchasing an additional 17,476 shares during the quarter. Inspire Investing LLC’s holdings in Goodyear Tire & Rubber were worth $458,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GT. Vanguard Group Inc. raised its stake in shares of Goodyear Tire & Rubber by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock worth $410,082,000 after purchasing an additional 765,529 shares during the last quarter. Wellington Management Group LLP raised its position in Goodyear Tire & Rubber by 48.2% during the 4th quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock worth $214,499,000 after buying an additional 4,870,381 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Goodyear Tire & Rubber by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock worth $82,376,000 after acquiring an additional 1,013,550 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Goodyear Tire & Rubber by 9.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,180,322 shares of the company’s stock worth $59,862,000 after acquiring an additional 353,758 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 3.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,977,383 shares of the company’s stock valued at $54,609,000 after acquiring an additional 148,566 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.28 on Wednesday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -3.66 and a beta of 1.69. 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 business’s 50 day simple moving average is $8.32 and its 200-day simple moving average is $10.64. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. Goodyear Tire & Rubber’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.34) earnings per share. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

GT has been the subject of several analyst reports. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.