Benson Investment Management Company Inc. Buys Shares of 76,025 Goodyear Tire & Rubber Co (GT)

Benson Investment Management Company Inc. bought a new stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 76,025 shares of the company’s stock, valued at approximately $2,456,000.

Several other institutional investors have also made changes to their positions in the company. Sound Shore Management Inc. CT lifted its position in shares of Goodyear Tire & Rubber by 38.7% during the third quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock worth $133,796,000 after purchasing an additional 1,123,573 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Goodyear Tire & Rubber by 94.1% during the second quarter. Parametric Portfolio Associates LLC now owns 1,296,130 shares of the company’s stock worth $45,313,000 after purchasing an additional 628,221 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Goodyear Tire & Rubber during the third quarter worth about $15,827,000. Dimensional Fund Advisors LP lifted its position in shares of Goodyear Tire & Rubber by 10.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock worth $151,903,000 after purchasing an additional 414,651 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 6.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock worth $230,753,000 after purchasing an additional 411,401 shares during the last quarter. Institutional investors own 94.64% of the company’s stock.

A number of brokerages have issued reports on GT. Guggenheim cut shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a report on Wednesday, November 1st. KeyCorp reissued a “buy” rating and issued a $37.00 target price on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. ValuEngine raised shares of Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. JPMorgan Chase & Co. cut their target price on shares of Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. Finally, Jefferies Group reissued a “buy” rating and issued a $36.00 target price on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.70.

Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) traded up $0.12 during midday trading on Friday, reaching $33.59. 1,971,700 shares of the company’s stock were exchanged, compared to its average volume of 3,010,000. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12. Goodyear Tire & Rubber Co has a 1 year low of $28.81 and a 1 year high of $37.20. The company has a market capitalization of $8,270.00, a PE ratio of 8.68, a P/E/G ratio of 0.71 and a beta of 1.53.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.03. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. Goodyear Tire & Rubber’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $1.17 earnings per share. research analysts anticipate that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current year.

In other news, SVP Jean Claude Kihn sold 7,500 shares of Goodyear Tire & Rubber stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $32.12, for a total transaction of $240,900.00. Following the sale, the senior vice president now owns 51,848 shares of the company’s stock, valued at $1,665,357.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

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About Goodyear Tire & Rubber

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 Goodyear Tire & Rubber (NASDAQ:GT)

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