Sanctuary Advisors LLC Invests $178,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Sanctuary Advisors LLC purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,021 shares of the company’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Family Firm Inc. acquired a new position in Goodyear Tire & Rubber during the 2nd quarter valued at about $26,000. Mather Group LLC. boosted its stake in Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after purchasing an additional 2,580 shares in the last quarter. Beach Investment Counsel Inc. PA acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at $40,000. MUFG Securities EMEA plc acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at $57,000. Finally, Covestor Ltd boosted its stake in Goodyear Tire & Rubber by 33.6% during 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. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Up 3.2 %

GT stock opened at $8.68 on Monday. The company has a 50 day moving average of $8.36 and a two-hundred day moving average of $10.56. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. 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 $2.47 billion, a price-to-earnings ratio of -3.84 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping 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 company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business earned ($0.34) EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Goodyear Tire & Rubber Company 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.