Net Worth Advisory Group Invests $184,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Net Worth Advisory Group acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,804 shares of the company’s stock, valued at approximately $184,000.

Several other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in Goodyear Tire & Rubber during the second quarter worth about $26,000. Mather Group LLC. increased its position 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 worth $30,000 after purchasing an additional 2,580 shares in the last quarter. Sound Income Strategies LLC increased its position in Goodyear Tire & Rubber by 2,122.5% during the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after purchasing an additional 3,778 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in Goodyear Tire & Rubber in the 2nd quarter valued at approximately $40,000. Finally, MUFG Securities EMEA plc acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at approximately $57,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.25 on Tuesday. The firm has a market cap of $2.35 billion, a PE ratio of -3.65 and a beta of 1.69. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The firm’s fifty day moving average is $8.36 and its 200-day moving average is $10.54. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, beating 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 firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the company posted ($0.34) EPS. The business’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GT. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a 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 MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

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.