The Goodyear Tire & Rubber Company (GT) Holdings Lifted by First Republic Investment Management Inc.

First Republic Investment Management Inc. raised its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 206,476 shares of the company’s stock after buying an additional 4,756 shares during the period. First Republic Investment Management Inc. owned about 0.08% of The Goodyear Tire & Rubber worth $6,865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of The Goodyear Tire & Rubber by 143.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after purchasing an additional 2,682 shares in the last quarter. Shell Asset Management Co. boosted its position in The Goodyear Tire & Rubber by 100.3% during the third 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. Schwab Charles Investment Management Inc. boosted 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 worth $42,943,000 after acquiring an additional 62,499 shares during the last quarter. Prudential Financial Inc. boosted its position in The Goodyear Tire & Rubber by 47.0% during the second 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. Finally, Canada Pension Plan Investment Board boosted its position in The Goodyear Tire & Rubber by 44.9% during the third quarter. Canada Pension Plan Investment Board now owns 159,759 shares of the company’s stock worth $5,312,000 after acquiring an additional 49,500 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

In other news, insider Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $33.26, for a total value of $249,450.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 30,000 shares of company stock worth $962,625. Company insiders own 1.40% of the company’s stock.

GT has been the topic of a number of recent research reports. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Morgan Stanley restated a “buy” rating and set a $46.00 price target on shares of The Goodyear Tire & Rubber in a research report on Monday, September 11th. Zacks Investment Research lowered shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. KeyCorp restated a “buy” rating and set a $37.00 price target on shares of The Goodyear Tire & Rubber in a research report on Thursday, October 12th. Finally, Citigroup lowered shares of The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $36.00 in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.70.

The Goodyear Tire & Rubber Company (GT) opened at $31.75 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 firm has a market cap of $7,714.96, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. 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 posted its earnings results on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates 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 was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. equities research analysts predict 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 was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were issued 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 dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, October 31st. The Goodyear Tire & Rubber’s dividend payout ratio is currently 14.47%.

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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.

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

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