The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP boosted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 29.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,457 shares of the company’s stock after buying an additional 3,058 shares during the quarter. Forum Financial Management LP’s holdings in Goodyear Tire & Rubber were worth $119,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Goodyear Tire & Rubber by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock worth $410,082,000 after purchasing an additional 765,529 shares during the last quarter. American Century Companies Inc. increased its position in shares of Goodyear Tire & Rubber by 16.2% during the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock worth $82,376,000 after acquiring an additional 1,013,550 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Goodyear Tire & Rubber by 3.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,977,383 shares of the company’s stock valued at $54,609,000 after purchasing an additional 148,566 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Goodyear Tire & Rubber by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after acquiring an additional 71,410 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Goodyear Tire & Rubber by 91.5% in the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock worth $28,203,000 after purchasing an additional 1,211,519 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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 report on Thursday, September 5th. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.23.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $9.23 on Wednesday. The company’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $10.21. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The firm has a market capitalization of $2.63 billion, a PE ratio of -8.88 and a beta of 1.69. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data 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 1.82% and a positive return on equity of 6.55%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

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.