The Goodyear Tire & Rubber Company (GT) Shares Bought by Swiss National Bank

Swiss National Bank boosted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 927,600 shares of the company’s stock after purchasing an additional 9,800 shares during the period. Swiss National Bank owned approximately 376,568.02% of The Goodyear Tire & Rubber worth $30,843,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of 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 worth $152,000 after acquiring an additional 2,682 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of The Goodyear Tire & Rubber by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,228,322 shares of the company’s stock worth $42,943,000 after acquiring an additional 62,499 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of The Goodyear Tire & Rubber by 47.0% during the 2nd quarter. Prudential Financial Inc. now owns 976,079 shares of the company’s stock worth $34,124,000 after acquiring an additional 312,298 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of The Goodyear Tire & Rubber by 100.3% during the 3rd quarter. Shell Asset Management Co. now owns 98,801 shares of the company’s stock worth $2,231,000 after acquiring an additional 49,484 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of The Goodyear Tire & Rubber by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 1,349,022 shares of the company’s stock worth $47,164,000 after acquiring an additional 20,952 shares during the last quarter. 91.93% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “The Goodyear Tire & Rubber Company (GT) Shares Bought by Swiss National Bank” was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://sportsperspectives.com/2017/11/17/the-goodyear-tire-rubber-company-gt-shares-bought-by-swiss-national-bank.html.

Several brokerages have recently weighed in on GT. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. ValuEngine cut shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Deutsche Bank AG cut shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Friday, July 28th. Morgan Stanley set a $52.00 target price on shares of The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub cut shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued 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.

Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) opened at $29.31 on Friday. 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 cap of $7,158.27, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 0.81 and a beta of 1.51. The Goodyear Tire & Rubber Company has a fifty-two week low of $28.81 and a fifty-two week high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The Goodyear Tire & Rubber’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. equities research analysts predict that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be issued a $0.14 dividend. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, October 31st. The Goodyear Tire & Rubber’s payout ratio is currently 14.47%.

In other news, insider Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $33.26, for a total value of $249,450.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 22,712 shares of company stock worth $728,079. 1.40% of the stock is currently owned by insiders.

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)

Receive News & Ratings for The Goodyear Tire & Rubber Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goodyear Tire & Rubber Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply