Midwest Trust Co Purchases Shares of 33,488 The Goodyear Tire & Rubber Company $GT

Midwest Trust Co purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,488 shares of the company’s stock, valued at approximately $347,000.

Other large investors have also modified their holdings of the company. American Century Companies Inc. raised its position in shares of Goodyear Tire & Rubber by 11.7% in the 1st quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock valued at $99,666,000 after purchasing an additional 1,134,058 shares during the last quarter. Victory Capital Management Inc. grew its position in Goodyear Tire & Rubber by 1.9% during the 1st quarter. Victory Capital Management Inc. now owns 5,247,677 shares of the company’s stock worth $48,489,000 after purchasing an additional 99,933 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Goodyear Tire & Rubber by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company’s stock valued at $35,122,000 after purchasing an additional 62,499 shares in the last quarter. Nuveen LLC purchased a new position in shares of Goodyear Tire & Rubber in the first quarter worth $20,422,000. Finally, KLCM Advisors Inc. lifted its stake in shares of Goodyear Tire & Rubber by 2.2% during the first quarter. KLCM Advisors Inc. now owns 1,808,910 shares of the company’s stock worth $16,714,000 after buying an additional 38,480 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Hsbc Global Res downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, BNP Paribas downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.36.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $7.73 on Thursday. The stock has a 50-day simple moving average of $7.64 and a two-hundred day simple moving average of $9.43. The firm has a market capitalization of $2.21 billion, a P/E ratio of 5.44, a PEG ratio of 2.35 and a beta of 1.32. The Goodyear Tire & Rubber Company has a fifty-two week low of $6.51 and a fifty-two week high of $12.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.67 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

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.