Parallel Advisors LLC Buys 1,734 Shares of The Goodyear Tire & Rubber Company $GT

Parallel Advisors LLC increased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 29.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,556 shares of the company’s stock after purchasing an additional 1,734 shares during the quarter. Parallel Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $78,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased 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 purchasing an additional 932 shares during the last quarter. John G Ullman & Associates Inc. boosted its holdings in 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 period. SummerHaven Investment Management LLC boosted its holdings in Goodyear Tire & Rubber by 2.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company’s stock valued at $677,000 after acquiring an additional 1,621 shares during the period. GAMMA Investing LLC boosted its holdings in Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock valued at $26,000 after acquiring an additional 1,674 shares during the period. Finally, UMB Bank n.a. boosted 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 valued at $29,000 after acquiring an additional 1,748 shares during the period. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Hsbc Global Res cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Citigroup assumed coverage on Goodyear Tire & Rubber in a report on Monday, September 8th. They set a “neutral” rating and a $10.00 price objective for the company. HSBC restated a “hold” rating and set a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 11th. Finally, BNP Paribas Exane restated a “neutral” rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.93.

Goodyear Tire & Rubber Price Performance

Shares of GT stock opened at $8.12 on Thursday. The Goodyear Tire & Rubber Company has a twelve month low of $7.80 and a twelve month high of $12.03. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 0.73 and a beta of 1.37. The stock has a fifty day simple moving average of $9.14 and a two-hundred day simple moving average of $9.96. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24.

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

Goodyear Tire & Rubber Company 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.