The Goodyear Tire & Rubber Company (GT) Shares Bought by State of Wisconsin Investment Board

State of Wisconsin Investment Board grew its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 533,394 shares of the company’s stock after purchasing an additional 13,547 shares during the period. State of Wisconsin Investment Board owned approximately 0.21% of The Goodyear Tire & Rubber worth $17,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GT. Sound Shore Management Inc. CT purchased a new stake in shares of The Goodyear Tire & Rubber during the second quarter worth $101,396,000. Bank of New York Mellon Corp raised its holdings in shares of The Goodyear Tire & Rubber by 15.9% during the second quarter. Bank of New York Mellon Corp now owns 6,202,190 shares of the company’s stock worth $216,826,000 after acquiring an additional 852,947 shares in the last quarter. LSV Asset Management raised its holdings in shares of The Goodyear Tire & Rubber by 6.6% during the second quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock worth $357,644,000 after acquiring an additional 634,919 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of The 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 acquiring an additional 628,221 shares in the last quarter. Finally, Seatown Holdings Pte. Ltd. purchased a new stake in shares of The Goodyear Tire & Rubber during the second quarter worth $21,686,000. Institutional investors own 91.93% of the company’s stock.

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In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.44, for a total transaction of $243,300.00. Following the completion of the transaction, the insider now owns 74,348 shares in the company, valued at $2,411,849.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 23,001 shares of company stock valued at $736,841. Corporate insiders own 1.40% of the company’s stock.

Several equities analysts have commented on GT shares. Zacks Investment Research raised shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub downgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. ValuEngine downgraded shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley set a $52.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Deutsche Bank AG downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The Goodyear Tire & Rubber has a consensus rating of “Hold” and an average target price of $37.55.

Shares of The Goodyear Tire & Rubber Company (GT) opened at $29.07 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. The Goodyear Tire & Rubber Company has a one year low of $28.81 and a one year high of $37.20. The firm has a market cap of $7,160.73, a PE ratio of 9.38, a P/E/G ratio of 0.81 and a beta of 1.51.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, October 31st. This is a boost from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 14.47%.

The Goodyear Tire & Rubber Profile

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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