Creative Planning Boosts Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Creative Planning boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 10.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 70,973 shares of the company’s stock after buying an additional 6,982 shares during the period. Creative Planning’s holdings in Goodyear Tire & Rubber were worth $806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GT. Family Firm Inc. acquired a new position in Goodyear Tire & Rubber during the 2nd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth $28,000. Mather Group LLC. grew its stake in shares of 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 purchasing an additional 2,580 shares in the last quarter. Beach Investment Counsel Inc. PA purchased a new position in Goodyear Tire & Rubber in the second quarter valued at $40,000. Finally, MUFG Securities EMEA plc acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at $57,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

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

Goodyear Tire & Rubber Price Performance

GT stock opened at $8.58 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $2.44 billion, a P/E ratio of -6.98 and a beta of 1.69. The business has a 50 day simple moving average of $8.31 and a 200-day simple moving average of $10.76. 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, topping the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted ($0.34) EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

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.