Riverhead Capital Management LLC cut its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 43.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,426 shares of the company’s stock after selling 117,100 shares during the quarter. Riverhead Capital Management LLC owned approximately 0.07% of Goodyear Tire & Rubber worth $3,565,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Goodyear Tire & Rubber by 3.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,312 shares of the company’s stock valued at $1,521,000 after buying an additional 2,269 shares during the period. Itau Unibanco Holding S.A. grew its holdings in Goodyear Tire & Rubber by 80.7% in the second quarter. Itau Unibanco Holding S.A. now owns 5,279 shares of the company’s stock worth $123,000 after purchasing an additional 2,358 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in Goodyear Tire & Rubber by 2.9% in the third quarter. Stratos Wealth Partners LTD. now owns 83,669 shares of the company’s stock worth $1,957,000 after purchasing an additional 2,391 shares during the last quarter. Vident Investment Advisory LLC grew its holdings in Goodyear Tire & Rubber by 33.7% in the second quarter. Vident Investment Advisory LLC now owns 10,101 shares of the company’s stock worth $235,000 after purchasing an additional 2,547 shares during the last quarter. Finally, ING Groep NV grew its holdings in Goodyear Tire & Rubber by 31.3% in the third quarter. ING Groep NV now owns 11,789 shares of the company’s stock worth $276,000 after purchasing an additional 2,809 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:GT opened at $22.12 on Friday. Goodyear Tire & Rubber Co has a 12 month low of $19.25 and a 12 month high of $36.07. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 0.76. The firm has a market cap of $5.26 billion, a PE ratio of 7.09 and a beta of 1.74.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, October 26th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $3.95 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts predict that Goodyear Tire & Rubber Co will post 2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Thursday, November 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.56 annualized dividend and a dividend yield of 2.53%. Goodyear Tire & Rubber’s payout ratio is currently 20.51%.
Several equities analysts have issued reports on GT shares. Argus cut their price target on shares of Goodyear Tire & Rubber from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Jefferies Financial Group set a $26.00 price target on shares of Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley lowered shares of Goodyear Tire & Rubber from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $33.00 to $23.00 in a report on Monday, August 13th. BidaskClub raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. Finally, 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 report on Friday, August 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $27.25.
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Goodyear Tire & Rubber Company 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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