Pin Oak Investment Advisors Inc. Boosts Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Pin Oak Investment Advisors Inc. grew its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,050 shares of the company’s stock after buying an additional 2,195 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Goodyear Tire & Rubber were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in GT. Family Firm Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter valued at $26,000. Mather Group LLC. boosted its position in Goodyear Tire & Rubber by 4,526.3% during the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after acquiring an additional 2,580 shares during the last quarter. Beach Investment Counsel Inc. PA acquired a new position in Goodyear Tire & Rubber in the 2nd quarter valued at $40,000. Sound Income Strategies LLC increased 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 purchasing an additional 3,778 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in Goodyear Tire & Rubber in the 2nd quarter worth about $57,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $10.61 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.02 billion, a PE ratio of -10.20 and a beta of 1.69. The company’s fifty day simple moving average is $8.74 and its 200-day simple moving average is $9.91. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

GT has been the subject of several research reports. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th.

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.