Trust Investment Advisors Invests $174,000 in The Goodyear Tire & Rubber Company $GT

Trust Investment Advisors bought a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,823 shares of the company’s stock, valued at approximately $174,000.

A number of other institutional investors and hedge funds have also modified their holdings of GT. Nuveen LLC purchased a new stake in shares of Goodyear Tire & Rubber during the first quarter worth about $20,422,000. CenterBook Partners LP purchased a new stake in Goodyear Tire & Rubber during the 1st quarter valued at about $13,413,000. American Century Companies Inc. grew its stake in Goodyear Tire & Rubber by 11.7% during the 1st quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock valued at $99,666,000 after acquiring an additional 1,134,058 shares in the last quarter. AQR Capital Management LLC grew its stake in Goodyear Tire & Rubber by 700.4% during the 1st quarter. AQR Capital Management LLC now owns 1,228,982 shares of the company’s stock valued at $11,233,000 after acquiring an additional 1,075,444 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in Goodyear Tire & Rubber during the 1st quarter valued at about $5,634,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $7.07 on Tuesday. The firm’s 50 day moving average price is $7.90 and its 200-day moving average price is $9.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The Goodyear Tire & Rubber Company has a one year low of $6.51 and a one year high of $12.03. The firm has a market cap of $2.02 billion, a P/E ratio of 4.98, a P/E/G ratio of 2.43 and a beta of 1.28.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on GT. BNP Paribas Exane reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. JPMorgan Chase & Co. dropped their price objective on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. BNP Paribas cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 8th. Hsbc Global Res cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, HSBC reaffirmed a “hold” rating and set a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.50.

About Goodyear Tire & Rubber

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.