Fruth Investment Management Cuts Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Fruth Investment Management cut its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,500 shares of the company’s stock after selling 1,900 shares during the period. Fruth Investment Management’s holdings in Goodyear Tire & Rubber were worth $598,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Fidelity D & D Bancorp Inc. increased its holdings in shares of Goodyear Tire & Rubber by 3.2% in the third quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock worth $283,000 after purchasing an additional 1,000 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Goodyear Tire & Rubber by 4.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company’s stock worth $306,000 after acquiring an additional 1,434 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in shares of Goodyear Tire & Rubber by 6.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 38,050 shares of the company’s stock worth $336,000 after acquiring an additional 2,195 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Goodyear Tire & Rubber by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock valued at $290,000 after acquiring an additional 2,245 shares during the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Goodyear Tire & Rubber by 29.4% during the 3rd quarter. Forum Financial Management LP now owns 13,457 shares of the company’s stock valued at $119,000 after acquiring an additional 3,058 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Down 0.1 %

Goodyear Tire & Rubber stock opened at $8.65 on Thursday. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $14.00. The firm has a 50-day moving average price of $9.32 and a 200-day moving average price of $9.04. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating 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 firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts expect that The Goodyear Tire & Rubber Company will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GT shares. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.30.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.