Inspire Investing LLC Has $390,000 Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Inspire Investing LLC boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 15.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,323 shares of the company’s stock after purchasing an additional 4,717 shares during the quarter. Inspire Investing LLC’s holdings in Goodyear Tire & Rubber were worth $390,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Goodyear Tire & Rubber by 48.2% in the fourth quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock worth $214,499,000 after acquiring an additional 4,870,381 shares in the last quarter. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth about $66,842,000. National Bank of Canada FI grew its holdings in shares of Goodyear Tire & Rubber by 2,944.7% during the first quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock worth $21,600,000 after buying an additional 1,611,966 shares in the last quarter. American Century Companies Inc. raised its position in Goodyear Tire & Rubber by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after buying an additional 1,013,550 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Goodyear Tire & Rubber by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock valued at $410,082,000 after acquiring an additional 765,529 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $8.25 on Friday. The firm’s fifty day moving average price is $9.27 and its two-hundred day moving average price is $11.18. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The company has a market cap of $2.35 billion, a P/E ratio of -3.65 and a beta of 1.70. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $15.24.

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

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.