Fruth Investment Management Raises Stock Position in Goodyear Tire & Rubber Co (NASDAQ:GT)

Fruth Investment Management grew its holdings in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,390 shares of the company’s stock after purchasing an additional 3,300 shares during the period. Fruth Investment Management’s holdings in Goodyear Tire & Rubber were worth $1,028,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GT. Swiss National Bank increased its position in shares of Goodyear Tire & Rubber by 1.7% in the first quarter. Swiss National Bank now owns 778,800 shares of the company’s stock valued at $14,135,000 after buying an additional 13,200 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Goodyear Tire & Rubber by 13.6% in the first quarter. Xact Kapitalforvaltning AB now owns 42,510 shares of the company’s stock valued at $772,000 after buying an additional 5,089 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Goodyear Tire & Rubber by 84.7% in the first quarter. Federated Investors Inc. PA now owns 389,139 shares of the company’s stock valued at $7,063,000 after buying an additional 178,431 shares during the period. Tyers Asset Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 68.1% in the first quarter. Tyers Asset Management LLC now owns 193,844 shares of the company’s stock valued at $3,518,000 after buying an additional 78,540 shares during the period. Finally, Neuburgh Advisers LLC raised its position in shares of Goodyear Tire & Rubber by 68.1% during the first quarter. Neuburgh Advisers LLC now owns 152,306 shares of the company’s stock worth $2,764,000 after purchasing an additional 61,710 shares during the period. Institutional investors own 81.66% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Exane BNP Paribas assumed coverage on Goodyear Tire & Rubber in a research report on Friday, August 16th. They set an “outperform” rating and a $15.00 target price on the stock. Morgan Stanley set a $14.00 target price on Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Wednesday, June 26th. BNP Paribas assumed coverage on Goodyear Tire & Rubber in a research report on Friday, August 16th. They set an “outperform” rating and a $10.00 target price on the stock. BidaskClub raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Finally, ValuEngine raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $17.52.

NASDAQ:GT traded up $0.26 during trading hours on Wednesday, hitting $13.49. 108,281 shares of the company’s stock traded hands, compared to its average volume of 4,178,411. The firm has a market cap of $3.08 billion, a P/E ratio of 5.81 and a beta of 1.77. Goodyear Tire & Rubber Co has a twelve month low of $10.74 and a twelve month high of $23.95. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.73 and a current ratio of 1.33. The stock’s fifty day moving average price is $12.85 and its two-hundred day moving average price is $15.17.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.77 billion. Goodyear Tire & Rubber had a net margin of 3.02% and a return on equity of 7.66%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, equities research analysts predict that Goodyear Tire & Rubber Co will post 1.5 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.74%. Goodyear Tire & Rubber’s payout ratio is 27.59%.

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. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

Recommended Story: Beta

Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goodyear Tire & Rubber Co (NASDAQ:GT).

Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.