Commonwealth Equity Services Inc Has $2.59 Million Stake in The Goodyear Tire & Rubber Company (GT)

Commonwealth Equity Services Inc boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 19.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,039 shares of the company’s stock after acquiring an additional 12,795 shares during the period. Commonwealth Equity Services Inc’s holdings in The Goodyear Tire & Rubber were worth $2,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in The Goodyear Tire & Rubber by 1.6% during the second quarter. Vanguard Group Inc. now owns 24,670,006 shares of the company’s stock valued at $862,464,000 after buying an additional 394,170 shares during the period. LSV Asset Management raised its position in shares of The Goodyear Tire & Rubber by 6.6% in the 2nd quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock valued at $357,644,000 after purchasing an additional 634,919 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of The Goodyear Tire & Rubber by 6.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock valued at $230,753,000 after purchasing an additional 411,401 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of The Goodyear Tire & Rubber by 15.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,202,190 shares of the company’s stock valued at $216,826,000 after purchasing an additional 852,947 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in The Goodyear Tire & Rubber by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,154,023 shares of the company’s stock worth $145,221,000 after buying an additional 67,997 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

The Goodyear Tire & Rubber Company (NASDAQ:GT) traded down $0.04 on Thursday, hitting $31.32. The company had a trading volume of 2,796,729 shares, compared to its average volume of 2,905,586. The firm has a market capitalization of $7,720.00, a price-to-earnings ratio of 10.39, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The Goodyear Tire & Rubber Company has a fifty-two week low of $28.81 and a fifty-two week high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The Goodyear Tire & Rubber’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. research analysts forecast 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. Investors of record on Wednesday, November 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.56 dividend on an annualized basis and a 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%.

A number of research firms have issued reports on GT. BidaskClub raised shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. KeyCorp reaffirmed a “buy” rating and set a $37.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. Zacks Investment Research raised shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research note on Monday, October 9th. Finally, J P Morgan Chase & Co cut their price target on shares of The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $37.70.

In other The Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $30.53, for a total transaction of $228,975.00. Following the sale, the senior vice president now owns 59,348 shares of the company’s stock, valued at approximately $1,811,894.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 30,000 shares of company stock valued at $962,625 in the last 90 days. Insiders own 1.40% of the company’s stock.

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About The 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.

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

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