Mutual of America Capital Management LLC Has $1.85 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Mutual of America Capital Management LLC lowered its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 162,997 shares of the company’s stock after selling 5,937 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Goodyear Tire & Rubber worth $1,850,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Family Firm Inc. acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at $28,000. Mather Group LLC. boosted its holdings in shares of Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after acquiring an additional 2,580 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth $33,000. Finally, Beach Investment Counsel Inc. PA bought a new position in Goodyear Tire & Rubber in the second quarter valued at about $40,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $8.02 on Thursday. The company has a market capitalization of $2.28 billion, a PE ratio of -3.55 and a beta of 1.70. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. The company has a 50 day simple moving average of $9.04 and a two-hundred day simple moving average of $11.10.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. Goodyear Tire & Rubber’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.34) earnings per share. Research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Finally, Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Company Profile

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.