Horrell Capital Management Inc. Sells 2,980 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Horrell Capital Management Inc. trimmed its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 10.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,581 shares of the company’s stock after selling 2,980 shares during the quarter. Horrell Capital Management Inc.’s holdings in Goodyear Tire & Rubber were worth $235,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Strategic Blueprint LLC purchased a new position in shares of Goodyear Tire & Rubber in the third quarter worth $132,000. Hedges Asset Management LLC raised its position in Goodyear Tire & Rubber by 54.2% during the third quarter. Hedges Asset Management LLC now owns 97,000 shares of the company’s stock valued at $858,000 after purchasing an additional 34,100 shares during the period. State of Alaska Department of Revenue grew its stake in Goodyear Tire & Rubber by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock worth $290,000 after purchasing an additional 2,245 shares in the last quarter. Legacy Capital Group California Inc. grew its stake in Goodyear Tire & Rubber by 115.3% in the third quarter. Legacy Capital Group California Inc. now owns 24,911 shares of the company’s stock worth $220,000 after purchasing an additional 13,338 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Goodyear Tire & Rubber by 30.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 234,854 shares of the company’s stock valued at $2,078,000 after acquiring an additional 54,806 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT traded down $0.08 during mid-day trading on Tuesday, reaching $8.45. The stock had a trading volume of 790,060 shares, compared to its average volume of 4,173,738. 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 business has a 50 day simple moving average of $8.36 and a 200 day simple moving average of $10.34. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $15.24. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -3.73 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.09 by $0.10. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) EPS. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GT. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.