Econ Financial Services Corp Makes New $923,000 Investment in The Goodyear Tire & Rubber Company $GT

Econ Financial Services Corp acquired a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 88,996 shares of the company’s stock, valued at approximately $923,000.

Other large investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Goodyear Tire & Rubber by 3.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company’s stock valued at $266,000 after acquiring an additional 932 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after acquiring an additional 1,011 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Goodyear Tire & Rubber by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 74,711 shares of the company’s stock valued at $775,000 after acquiring an additional 1,393 shares during the last quarter. John G Ullman & Associates Inc. raised its position in shares of Goodyear Tire & Rubber by 9.1% during the 1st quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company’s stock valued at $166,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Inspire Investing LLC raised its position in shares of Goodyear Tire & Rubber by 3.6% during the 2nd quarter. Inspire Investing LLC now owns 46,061 shares of the company’s stock valued at $478,000 after acquiring an additional 1,582 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

GT has been the subject of several recent research reports. Citigroup initiated coverage on shares of Goodyear Tire & Rubber in a research report on Monday, September 8th. They set a “neutral” rating and a $10.00 target price for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Wednesday, October 8th. HSBC reiterated a “hold” rating and set a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, BNP Paribas cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.50.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $7.08 on Wednesday. The company has a market capitalization of $2.03 billion, a PE ratio of 4.99, a PEG ratio of 2.37 and a beta of 1.28. The Goodyear Tire & Rubber Company has a 12 month low of $6.51 and a 12 month high of $12.03. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $7.87 and its 200 day simple moving average is $9.63.

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). The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber 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.