Inspire Advisors LLC Raises Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Inspire Advisors LLC lifted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 28.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,846 shares of the company’s stock after purchasing an additional 4,209 shares during the quarter. Inspire Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $167,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Goodyear Tire & Rubber by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 29,102,067 shares of the company’s stock valued at $416,742,000 after purchasing an additional 576,369 shares in the last quarter. CWM LLC lifted its holdings in shares of Goodyear Tire & Rubber by 253.2% in the first quarter. CWM LLC now owns 11,460 shares of the company’s stock valued at $157,000 after buying an additional 8,215 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Goodyear Tire & Rubber by 2.4% in the first quarter. State of Michigan Retirement System now owns 69,626 shares of the company’s stock valued at $956,000 after buying an additional 1,600 shares during the period. Principal Financial Group Inc. boosted its position in shares of Goodyear Tire & Rubber by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,076,124 shares of the company’s stock valued at $14,775,000 after purchasing an additional 17,443 shares during the period. Finally, Retirement Systems of Alabama boosted its position 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 during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

GT has been the subject of a number of research reports. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $8.68 on Monday. The firm has a market cap of $2.47 billion, a P/E ratio of -3.84 and a beta of 1.69. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. The business’s fifty day moving average is $8.36 and its two-hundred day moving average is $10.56.

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