Quadrant Capital Management LLC Purchases New Stake in The Goodyear Tire & Rubber Company (GT)

Quadrant Capital Management LLC purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 36,800 shares of the company’s stock, valued at approximately $1,224,000.

Several other large investors have also recently added to or reduced their stakes in the company. Financial Architects Inc increased its position in The Goodyear Tire & Rubber by 2.2% during the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after acquiring an additional 75 shares during the period. First Quadrant L P CA bought a new position in The Goodyear Tire & Rubber during the second quarter worth $130,000. Washington Trust Bank increased its position in The Goodyear Tire & Rubber by 46.3% during the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after acquiring an additional 1,230 shares during the period. Exane Derivatives increased its position in The Goodyear Tire & Rubber by 204,800.0% during the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after acquiring an additional 4,096 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in The Goodyear Tire & Rubber by 143.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after acquiring an additional 2,682 shares during the period. 91.93% of the stock is currently owned by institutional investors.

Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) traded up $0.13 during trading hours on Wednesday, hitting $29.36. 2,270,100 shares of the stock traded hands, compared to its average volume of 2,905,189. The Goodyear Tire & Rubber Company has a 52 week low of $28.81 and a 52 week high of $37.20. 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 firm has a market cap of $7,180.00, a P/E ratio of 9.43, a PEG ratio of 0.82 and a beta of 1.51.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, October 27th. The company reported $0.70 EPS 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 company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts predict that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders 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 1.91%. The ex-dividend date of this dividend is Tuesday, October 31st. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s payout ratio is currently 14.47%.

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In related news, insider Jean Claude Kihn sold 7,500 shares of the company’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 transaction, the insider now owns 74,348 shares in the company, valued at approximately $2,411,849.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 22,712 shares of company stock worth $728,079 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

GT has been the topic of a number of research reports. BidaskClub lowered shares of The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Guggenheim lowered shares of The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 31st. KeyCorp reissued a “buy” rating and issued a $37.00 price target on shares of The Goodyear Tire & Rubber in a report on Thursday, October 12th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $36.00 price target on shares of The Goodyear Tire & Rubber in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The Goodyear Tire & Rubber currently has an average rating of “Hold” and an average price target of $37.55.

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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