Goodyear Tire & Rubber Co (GT) Shares Sold by James Investment Research Inc.

James Investment Research Inc. trimmed its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 43.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,475 shares of the company’s stock after selling 8,777 shares during the quarter. James Investment Research Inc.’s holdings in Goodyear Tire & Rubber were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GT. Russell Investments Group Ltd. boosted its stake in shares of Goodyear Tire & Rubber by 12.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,022,708 shares of the company’s stock valued at $47,292,000 after purchasing an additional 218,749 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Goodyear Tire & Rubber by 30.2% in the 3rd quarter. First Trust Advisors LP now owns 328,349 shares of the company’s stock valued at $7,680,000 after purchasing an additional 76,221 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Goodyear Tire & Rubber by 7.6% in the 3rd quarter. Retirement Systems of Alabama now owns 360,585 shares of the company’s stock valued at $8,434,000 after purchasing an additional 25,520 shares during the last quarter. Strs Ohio boosted its stake in shares of Goodyear Tire & Rubber by 21.9% in the 3rd quarter. Strs Ohio now owns 278,101 shares of the company’s stock valued at $6,504,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Goodyear Tire & Rubber by 748.6% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 181,508 shares of the company’s stock valued at $5,546,000 after purchasing an additional 160,118 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

GT opened at $21.65 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.34. Goodyear Tire & Rubber Co has a 1-year low of $19.25 and a 1-year high of $36.07. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 6.94 and a beta of 1.73.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, October 26th. The company reported $0.68 earnings per share 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 business 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 company posted $0.70 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Goodyear Tire & Rubber Co will post 2.71 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, October 31st. This represents a $0.56 annualized dividend and a yield of 2.59%. Goodyear Tire & Rubber’s payout ratio is 20.51%.

GT has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Jefferies Financial Group reiterated a “buy” rating and set a $32.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 13th. Goldman Sachs Group downgraded shares of Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Guggenheim reiterated a “hold” rating and set a $21.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 20th. Finally, Longbow Research reiterated a “hold” rating on shares of Goodyear Tire & Rubber in a research report on Friday, July 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.88.

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About Goodyear Tire & Rubber

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

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