Vontobel Holding Ltd. Makes New $649,000 Investment in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Vontobel Holding Ltd. acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 73,318 shares of the company's stock, valued at approximately $649,000.

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

Goodyear Tire & Rubber Stock Down 0.7 %

GT stock traded down $0.06 during midday trading on Tuesday, hitting $8.19. 5,999,185 shares of the company's stock were exchanged, compared to its average volume of 4,155,359. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -3.69 and a beta of 1.69. The firm has a 50 day moving average price of $8.37 and a 200-day moving average price of $10.51. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced 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. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The firm had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the previous year, the company earned ($0.34) earnings per share. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GT. StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th. Wolfe Research downgraded Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.