Towle & Co. Grows Position in The Goodyear Tire & Rubber Company (GT)

Towle & Co. boosted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,080,000 shares of the company’s stock after acquiring an additional 32,714 shares during the quarter. The Goodyear Tire & Rubber accounts for about 3.8% of Towle & Co.’s investment portfolio, making the stock its 8th largest position. Towle & Co. owned 0.44% of The Goodyear Tire & Rubber worth $35,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GT. Benjamin F. Edwards & Company Inc. increased its position in The Goodyear Tire & Rubber by 143.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock valued at $152,000 after buying an additional 2,682 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in The Goodyear Tire & Rubber by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,228,322 shares of the company’s stock valued at $42,943,000 after purchasing an additional 62,499 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of The Goodyear Tire & Rubber by 47.0% in the second quarter. Prudential Financial Inc. now owns 976,079 shares of the company’s stock valued at $34,124,000 after acquiring an additional 312,298 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of The Goodyear Tire & Rubber by 100.3% in the third quarter. Shell Asset Management Co. now owns 98,801 shares of the company’s stock valued at $2,231,000 after acquiring an additional 49,484 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of The Goodyear Tire & Rubber by 1.6% in the second quarter. Legal & General Group Plc now owns 1,349,022 shares of the company’s stock valued at $47,164,000 after acquiring an additional 20,952 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

In other The Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $30.53, for a total transaction of $228,975.00. Following the transaction, the senior vice president now directly owns 59,348 shares in the company, valued at approximately $1,811,894.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 23,001 shares of company stock worth $736,841 over the last quarter. 1.40% of the stock is currently owned by insiders.

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Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) traded down $0.08 during midday trading on Friday, hitting $29.07. 2,806,800 shares of the company’s stock traded hands, compared to its average volume of 3,647,048. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $7,160.73, a P/E ratio of 9.38, a PEG ratio of 0.81 and a beta of 1.51. The Goodyear Tire & Rubber Company has a 12 month low of $28.81 and a 12 month high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. equities research analysts expect 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 will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.93%. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 31st. The Goodyear Tire & Rubber’s dividend payout ratio is 14.47%.

A number of analysts recently issued reports on the company. J P Morgan Chase & Co lowered their price target on The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Deutsche Bank AG lowered The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Friday, July 28th. BidaskClub raised The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on The Goodyear Tire & Rubber and gave the company a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. One equities research 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 stock currently has a consensus rating of “Hold” and a consensus price target of $37.55.

The Goodyear Tire & Rubber Company 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.

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

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