Walthausen & Co. LLC Acquires Shares of 185,860 The Goodyear Tire & Rubber Company (GT)

Walthausen & Co. LLC acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 185,860 shares of the company’s stock, valued at approximately $6,498,000. Walthausen & Co. LLC owned approximately 0.07% of The Goodyear Tire & Rubber at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Architects Inc grew its stake in shares of 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 last quarter. First Quadrant L P CA purchased a new stake in shares of The Goodyear Tire & Rubber during the second quarter worth about $130,000. Washington Trust Bank grew its stake in shares of 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 last quarter. Exane Derivatives grew its stake in shares of 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 last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of The Goodyear Tire & Rubber during the second quarter worth about $160,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.

A number of equities research analysts recently commented on the company. Guggenheim assumed coverage on The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 target price on the stock. Jefferies Group LLC set a $36.00 price objective on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The Goodyear Tire & Rubber has an average rating of “Buy” and a consensus target price of $38.25.

The Goodyear Tire & Rubber Company (NASDAQ:GT) traded up 0.45% on Wednesday, reaching $33.17. The company had a trading volume of 544,904 shares. The company has a market capitalization of $8.35 billion, a PE ratio of 7.31 and a beta of 1.56. The Goodyear Tire & Rubber Company has a 52-week low of $26.82 and a 52-week high of $37.20. The company’s 50-day moving average is $31.80 and its 200-day moving average is $33.54.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. Equities analysts anticipate that The Goodyear Tire & Rubber Company will post $3.05 EPS for the current fiscal year.

The firm 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 is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 annualized dividend and a yield of 1.70%. The Goodyear Tire & Rubber’s dividend payout ratio is presently 8.77%.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $33.26, for a total transaction of $249,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 15,501 shares of company stock valued at $507,866 over the last quarter. Insiders own 1.40% of the company’s stock.

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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.

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

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