Dynamic Technology Lab Private Ltd Purchases New Position in The Goodyear Tire & Rubber Company (GT)

Dynamic Technology Lab Private Ltd purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,182 shares of the company’s stock, valued at approximately $205,000.

A number of other large investors have also bought and sold shares of the stock. Macquarie Group Ltd. boosted its position in The Goodyear Tire & Rubber by 44.6% during the 3rd quarter. Macquarie Group Ltd. now owns 99,600 shares of the company’s stock worth $3,312,000 after buying an additional 30,700 shares during the period. Quantum Capital Management boosted its position in The Goodyear Tire & Rubber by 6.4% during the 3rd quarter. Quantum Capital Management now owns 211,678 shares of the company’s stock worth $7,038,000 after buying an additional 12,688 shares during the period. Commonwealth Equity Services Inc boosted its position in The Goodyear Tire & Rubber by 19.6% during the 3rd quarter. Commonwealth Equity Services Inc now owns 78,039 shares of the company’s stock worth $2,594,000 after buying an additional 12,795 shares during the period. Quantbot Technologies LP bought a new position in The Goodyear Tire & Rubber during the 3rd quarter worth approximately $885,000. Finally, Quadrant Capital Management LLC bought a new position in The Goodyear Tire & Rubber during the 3rd quarter worth approximately $1,224,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

In other news, insider Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $33.26, for a total value of $249,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 30,000 shares of company stock valued at $962,625 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at $31.32 on Friday. The firm has a market cap of $7,720.00, a price-to-earnings ratio of 10.39, a PEG ratio of 0.90 and a beta of 1.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. The Goodyear Tire & Rubber Company has a one year low of $28.81 and a one year high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The Goodyear Tire & Rubber’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 EPS. analysts expect that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were paid a $0.14 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.79%. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s payout ratio is currently 14.47%.

Several research analysts have issued reports on GT shares. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Morgan Stanley restated a “buy” rating and set a $46.00 price target on shares of The Goodyear Tire & Rubber in a report on Monday, September 11th. Zacks Investment Research lowered shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. KeyCorp restated a “buy” rating and set a $37.00 price target on shares of The Goodyear Tire & Rubber in a report on Thursday, October 12th. Finally, Citigroup lowered shares of The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $36.00 in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $37.70.

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The Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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Institutional Ownership by Quarter for The Goodyear Tire & Rubber (NASDAQ:GT)

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