The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. raised its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,050 shares of the company’s stock after purchasing 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 SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted its holdings 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 valued at $82,376,000 after buying an additional 1,013,550 shares during the period. Victory Capital Management Inc. lifted its stake in Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after buying an additional 4,633,368 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Goodyear Tire & Rubber by 13.4% during the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after acquiring an additional 484,198 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Goodyear Tire & Rubber by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock worth $31,267,000 after acquiring an additional 252,960 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Goodyear Tire & Rubber by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock worth $30,817,000 after acquiring an additional 71,410 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock opened at $10.61 on Thursday. 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 current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.02 billion, a PE ratio of -10.20 and a beta of 1.69. The company’s 50-day moving average price is $8.74 and its two-hundred day moving average price is $9.91.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GT shares. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

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.