Psagot Investment House Ltd. Raises Stake in Goodyear Tire & Rubber Co (NASDAQ:GT)

Psagot Investment House Ltd. lifted its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 311.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,700 shares of the company’s stock after purchasing an additional 8,100 shares during the period. Psagot Investment House Ltd.’s holdings in Goodyear Tire & Rubber were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GT. Benjamin F. Edwards & Company Inc. lifted its position in shares of 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. Schroder Investment Management Group acquired a new position in Goodyear Tire & Rubber in the second quarter valued at approximately $160,000. Dynamic Technology Lab Private Ltd acquired a new position in Goodyear Tire & Rubber in the third quarter valued at approximately $205,000. Pacer Advisors Inc. lifted its holdings in Goodyear Tire & Rubber by 8.4% in the second quarter. Pacer Advisors Inc. now owns 5,883 shares of the company’s stock valued at $206,000 after buying an additional 457 shares during the period. Finally, Westover Capital Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 5.7% in the second quarter. Westover Capital Advisors LLC now owns 6,139 shares of the company’s stock valued at $215,000 after buying an additional 330 shares during the period. Institutional investors own 94.64% of the company’s stock.

Shares of Goodyear Tire & Rubber Co (GT) traded down $0.44 during trading hours on Friday, reaching $32.31. 1,634,221 shares of the company’s stock traded hands, compared to its average volume of 2,379,847. Goodyear Tire & Rubber Co has a 1 year low of $28.81 and a 1 year high of $37.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market capitalization of $8,067.21, a P/E ratio of 8.35, a PEG ratio of 0.92 and a beta of 1.52.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, October 27th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. equities analysts forecast that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, October 31st. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. Goodyear Tire & Rubber’s dividend payout ratio is presently 14.47%.

In other Goodyear Tire & Rubber 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 22,500 shares of company stock valued at $719,325 in the last ninety days. Insiders own 1.40% of the company’s stock.

Several equities analysts recently weighed in on the stock. Jefferies Group restated a “buy” rating and issued a $36.00 price objective on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. Guggenheim lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a report on Wednesday, November 1st. BidaskClub upgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. ValuEngine upgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $37.70.

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About 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 Goodyear Tire & Rubber (NASDAQ:GT)

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