Barnett & Company Inc. Has $835,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Barnett & Company Inc. increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 19.8% during the third quarter, Holdings Channel reports. The firm owned 94,400 shares of the company’s stock after buying an additional 15,600 shares during the quarter. Barnett & Company Inc.’s holdings in Goodyear Tire & Rubber were worth $835,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC raised its stake in shares of Goodyear Tire & Rubber by 41.6% during the first quarter. Tidal Investments LLC now owns 63,967 shares of the company’s stock worth $878,000 after acquiring an additional 18,790 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Goodyear Tire & Rubber by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock worth $30,817,000 after purchasing an additional 71,410 shares in the last quarter. National Bank of Canada FI increased its position in shares of Goodyear Tire & Rubber by 2,944.7% during the 1st quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock valued at $21,600,000 after purchasing an additional 1,611,966 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in Goodyear Tire & Rubber by 1,011.8% during the 2nd quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock valued at $7,197,000 after buying an additional 577,045 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Goodyear Tire & Rubber by 132.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 224,158 shares of the company’s stock worth $3,077,000 after buying an additional 127,610 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 1.4 %

NASDAQ:GT traded down $0.14 during trading hours on Tuesday, hitting $9.63. The company had a trading volume of 846,333 shares, compared to its average volume of 4,295,389. The company has a 50-day moving average of $8.40 and a 200 day moving average of $10.13. The company has a market cap of $2.74 billion, a P/E ratio of -9.39 and a beta of 1.69. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $15.24. The company has a current ratio of 1.14, a quick ratio of 0.54 and a debt-to-equity ratio of 1.51.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on GT. 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 upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and a consensus price target 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.