Oppenheimer Asset Management Inc. Takes Position in Goodyear Tire & Rubber Co (GT)

Oppenheimer Asset Management Inc. bought a new stake in Goodyear Tire & Rubber Co (NASDAQ:GT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,739 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swiss National Bank raised its position in shares of Goodyear Tire & Rubber by 0.8% in the second quarter. Swiss National Bank now owns 796,300 shares of the company’s stock valued at $18,546,000 after purchasing an additional 6,000 shares during the period. Bbva Compass Bancshares Inc. raised its position in shares of Goodyear Tire & Rubber by 9.2% in the second quarter. Bbva Compass Bancshares Inc. now owns 95,517 shares of the company’s stock valued at $2,225,000 after purchasing an additional 8,044 shares during the period. Smith Graham & Co. Investment Advisors LP raised its position in shares of Goodyear Tire & Rubber by 8.9% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 208,110 shares of the company’s stock valued at $4,847,000 after purchasing an additional 17,010 shares during the period. Bank of Montreal Can raised its position in shares of Goodyear Tire & Rubber by 486.4% in the third quarter. Bank of Montreal Can now owns 1,072,935 shares of the company’s stock valued at $25,096,000 after purchasing an additional 889,967 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Goodyear Tire & Rubber by 35.5% in the second quarter. Russell Investments Group Ltd. now owns 1,803,959 shares of the company’s stock valued at $42,057,000 after purchasing an additional 472,875 shares during the period. Hedge funds and other institutional investors own 88.76% of the company’s stock.

A number of equities analysts have recently commented on GT shares. Goldman Sachs Group lowered shares of Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Berenberg Bank lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Friday, August 31st. Wolfe Research started coverage on shares of Goodyear Tire & Rubber in a research report on Tuesday, October 2nd. They issued an “outperform” rating on the stock. BidaskClub lowered shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.88.

Shares of GT stock opened at $21.99 on Friday. Goodyear Tire & Rubber Co has a 1 year low of $19.25 and a 1 year high of $36.07. The firm has a market cap of $5.17 billion, a P/E ratio of 7.05 and a beta of 1.73. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.34.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, October 26th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.08). Goodyear Tire & Rubber had a return on equity of 13.84% and a net margin of 3.11%. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the firm posted $0.70 EPS. The company’s revenue was up .2% compared to the same quarter last year. Analysts predict that Goodyear Tire & Rubber Co will post 2.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Wednesday, October 31st. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 20.51%.

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About Goodyear Tire & Rubber

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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