Pin Oak Investment Advisors Inc. Sells 1,950 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Pin Oak Investment Advisors Inc. lowered its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,770 shares of the company’s stock after selling 1,950 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in Goodyear Tire & Rubber were worth $527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $33,000. Headinvest LLC bought a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $34,000. American Trust bought a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $140,000. Pathstone Family Office LLC bought a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $141,000. Finally, Forum Financial Management LP bought a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $149,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 2.4 %

Shares of GT traded down $0.29 during trading hours on Tuesday, reaching $11.64. The stock had a trading volume of 2,292,076 shares, compared to its average volume of 3,396,324. The Goodyear Tire & Rubber Company has a 12 month low of $11.26 and a 12 month high of $16.50. The firm has a 50-day simple moving average of $12.43 and a 200 day simple moving average of $13.09. The company has a current ratio of 1.15, a quick ratio of 0.60 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -5.15 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The company had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business earned ($0.29) EPS. Goodyear Tire & Rubber’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GT shares. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. HSBC decreased their target price on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research report on Wednesday, May 8th.

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.