Fruth Investment Management Sells 1,500 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Fruth Investment Management decreased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,400 shares of the company’s stock after selling 1,500 shares during the period. Fruth Investment Management’s holdings in Goodyear Tire & Rubber were worth $605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sound Income Strategies LLC raised its stake in Goodyear Tire & Rubber by 2,122.5% in the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after buying an additional 3,778 shares during the period. Inspire Investing LLC grew its position in shares of Goodyear Tire & Rubber by 50.9% in the third quarter. Inspire Investing LLC now owns 51,799 shares of the company’s stock valued at $458,000 after purchasing an additional 17,476 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Goodyear Tire & Rubber by 1,843.6% in the third quarter. SG Americas Securities LLC now owns 474,980 shares of the company’s stock valued at $4,204,000 after purchasing an additional 450,542 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Goodyear Tire & Rubber by 102.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 691,152 shares of the company’s stock valued at $7,845,000 after purchasing an additional 350,500 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $178,000. Institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Trading Down 1.7 %

NASDAQ GT opened at $8.43 on Tuesday. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -3.73 and a beta of 1.69. 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 business’s fifty day moving average is $8.31 and its 200 day moving average is $10.68. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $15.24.

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