Birmingham Capital Management Co. Inc. AL Sells 6,300 Shares of The Goodyear Tire & Rubber Company $GT

Birmingham Capital Management Co. Inc. AL trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,075 shares of the company’s stock after selling 6,300 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Goodyear Tire & Rubber were worth $657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GT. GAMMA Investing LLC increased its position in Goodyear Tire & Rubber by 147.5% in the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after purchasing an additional 1,674 shares during the period. UMB Bank n.a. grew its holdings in Goodyear Tire & Rubber by 125.9% during the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company’s stock worth $29,000 after acquiring an additional 1,748 shares during the period. Cloud Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the 1st quarter worth $33,000. Farther Finance Advisors LLC grew its stake in shares of Goodyear Tire & Rubber by 1,799.1% during the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock worth $37,000 after purchasing an additional 3,868 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GT. Hsbc Global Res lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 11th. BNP Paribas Exane reiterated a “neutral” rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. Finally, HSBC restated a “hold” rating and issued a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.93.

Goodyear Tire & Rubber Stock Up 0.1%

NASDAQ GT opened at $8.56 on Thursday. The business has a fifty day moving average price of $9.69 and a two-hundred day moving average price of $10.02. The stock has a market capitalization of $2.45 billion, a PE ratio of 6.03, a PEG ratio of 0.76 and a beta of 1.37. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue was down 2.3% on a year-over-year basis. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal 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.