Centric Wealth Management Takes Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Centric Wealth Management bought a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,583 shares of the company’s stock, valued at approximately $101,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $26,000. Mather Group LLC. increased its holdings in Goodyear Tire & Rubber by 4,526.3% in the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after purchasing an additional 2,580 shares in the last quarter. Sound Income Strategies LLC raised its position in Goodyear Tire & Rubber by 2,122.5% in the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after purchasing an additional 3,778 shares during the period. Beach Investment Counsel Inc. PA acquired a new position in shares of Goodyear Tire & Rubber during the second quarter worth about $40,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter worth about $57,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 5.0 %

Shares of Goodyear Tire & Rubber stock opened at $10.61 on Friday. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $15.24. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The business’s 50 day simple moving average is $8.79 and its 200-day simple moving average is $9.91.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GT. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.