BLB&B Advisors LLC Reduces Holdings in Goodyear Tire & Rubber Co (GT)

BLB&B Advisors LLC decreased its position in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,635 shares of the company’s stock after selling 16,925 shares during the quarter. BLB&B Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $1,348,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Swiss National Bank grew its holdings in shares of Goodyear Tire & Rubber by 0.8% during the second quarter. Swiss National Bank now owns 796,300 shares of the company’s stock worth $18,546,000 after buying an additional 6,000 shares during the last quarter. Bbva Compass Bancshares Inc. grew its holdings in shares of Goodyear Tire & Rubber by 9.2% during the second quarter. Bbva Compass Bancshares Inc. now owns 95,517 shares of the company’s stock worth $2,225,000 after buying an additional 8,044 shares during the last quarter. Smith Graham & Co. Investment Advisors LP grew its holdings in shares of Goodyear Tire & Rubber by 8.9% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 208,110 shares of the company’s stock worth $4,847,000 after buying an additional 17,010 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Goodyear Tire & Rubber by 35.5% during the second quarter. Russell Investments Group Ltd. now owns 1,803,959 shares of the company’s stock worth $42,057,000 after buying an additional 472,875 shares during the last quarter. Finally, Natixis grew its holdings in shares of Goodyear Tire & Rubber by 18.9% during the second quarter. Natixis now owns 191,547 shares of the company’s stock worth $4,461,000 after buying an additional 30,508 shares during the last quarter. 86.52% of the stock is currently owned by institutional investors.

Shares of NASDAQ:GT opened at $20.59 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.36 and a quick ratio of 0.75. The stock has a market capitalization of $5.54 billion, a P/E ratio of 6.60 and a beta of 1.69. Goodyear Tire & Rubber Co has a 52 week low of $20.31 and a 52 week high of $36.07.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, July 27th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.85 billion. Goodyear Tire & Rubber had a net margin of 1.69% and a return on equity of 14.04%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. On average, sell-side analysts anticipate that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be given a $0.14 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.56 dividend on an annualized basis and a yield of 2.72%. Goodyear Tire & Rubber’s payout ratio is currently 17.95%.

A number of equities analysts recently issued reports on GT shares. Argus lowered their price target on Goodyear Tire & Rubber to $30.00 and set an “average” rating on the stock in a report on Monday, August 6th. They noted that the move was a valuation call. Jefferies Financial Group set a $30.00 price target on Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Tuesday, July 31st. Northcoast Research reissued a “buy” rating on shares of Goodyear Tire & Rubber in a report on Monday, June 25th. Morgan Stanley lowered Goodyear Tire & Rubber from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $33.00 to $23.00 in a report on Monday, August 13th. Finally, Longbow Research reissued a “hold” rating on shares of Goodyear Tire & Rubber in a report on Monday, August 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $28.38.

Goodyear Tire & Rubber 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, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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

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