Retirement Systems of Alabama Increases Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Retirement Systems of Alabama lifted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,997 shares of the company’s stock after buying an additional 23,672 shares during the period. Retirement Systems of Alabama owned about 0.12% of The Goodyear Tire & Rubber worth $9,576,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Gateway Investment Advisers LLC raised its holdings in The Goodyear Tire & Rubber by 0.3% during the second quarter. Gateway Investment Advisers LLC now owns 15,882 shares of the company’s stock worth $555,000 after acquiring an additional 42 shares in the last quarter. Financial Architects Inc raised its holdings 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 in the last quarter. Louisiana State Employees Retirement System raised its stake in The Goodyear Tire & Rubber by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the company’s stock valued at $545,000 after buying an additional 100 shares during the period. Thrivent Financial For Lutherans raised its stake in The Goodyear Tire & Rubber by 1.5% in the first quarter. Thrivent Financial For Lutherans now owns 9,280 shares of the company’s stock valued at $334,000 after buying an additional 140 shares during the period. Finally, Arizona State Retirement System raised its stake in The Goodyear Tire & Rubber by 0.3% in the second quarter. Arizona State Retirement System now owns 62,479 shares of the company’s stock valued at $2,184,000 after buying an additional 200 shares during the period. 94.76% of the stock is owned by institutional investors.

Several research firms have issued reports on GT. Jefferies Group set a $36.00 price objective on The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Monday, August 7th. ValuEngine upgraded The Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a research note on Friday. Guggenheim lowered The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Wednesday, November 1st. BidaskClub raised The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Finally, J P Morgan Chase & Co decreased their target price on The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The Goodyear Tire & Rubber presently has a consensus rating of “Hold” and an average target price of $37.70.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.44, for a total value of $243,300.00. Following the sale, the insider now owns 74,348 shares of the company’s stock, valued at approximately $2,411,849.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 22,500 shares of company stock worth $721,725. Company insiders own 1.40% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (GT) traded down $0.05 during trading hours on Monday, reaching $32.07. The company had a trading volume of 2,783,245 shares, compared to its average volume of 2,906,062. The firm has a market capitalization of $7,930.00, a P/E ratio of 10.36, a P/E/G ratio of 0.90 and a beta of 1.52. The Goodyear Tire & Rubber Company has a 1-year low of $28.81 and a 1-year high of $37.20. 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 Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.03. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 earnings per share. sell-side analysts predict that The Goodyear Tire & Rubber Company will post 2.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, October 31st. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 14.47%.

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About The Goodyear Tire & Rubber

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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