8,739 Shares in Goodyear Tire & Rubber Co (GT) Acquired by Oppenheimer Asset Management Inc.

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Oppenheimer Asset Management Inc. acquired a new position in Goodyear Tire & Rubber Co (NASDAQ:GT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,739 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. DnB Asset Management AS boosted its holdings in shares of Goodyear Tire & Rubber by 14.3% in the second quarter. DnB Asset Management AS now owns 22,400 shares of the company’s stock worth $522,000 after buying an additional 2,800 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Goodyear Tire & Rubber by 33.2% in the second quarter. IFM Investors Pty Ltd now owns 13,696 shares of the company’s stock worth $319,000 after buying an additional 3,416 shares during the period. Bank of Montreal Can boosted its holdings in shares of Goodyear Tire & Rubber by 50.1% in the second quarter. Bank of Montreal Can now owns 182,968 shares of the company’s stock worth $4,261,000 after buying an additional 61,048 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Goodyear Tire & Rubber by 7.6% in the second quarter. Retirement Systems of Alabama now owns 335,065 shares of the company’s stock worth $7,804,000 after buying an additional 23,717 shares during the period. Finally, Oakbrook Investments LLC acquired a new position in shares of Goodyear Tire & Rubber in the second quarter worth about $238,000. 88.76% of the stock is currently owned by institutional investors.

GT stock opened at $21.99 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. The company has a market cap of $5.17 billion, a P/E ratio of 7.05 and a beta of 1.73. Goodyear Tire & Rubber Co has a 52 week low of $19.25 and a 52 week high of $36.07.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, October 26th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.08). The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.95 billion. Goodyear Tire & Rubber had a return on equity of 13.84% and a net margin of 3.11%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, analysts anticipate that Goodyear Tire & Rubber Co will post 2.71 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, October 31st. Goodyear Tire & Rubber’s dividend payout ratio is currently 20.51%.

Several brokerages have commented on GT. Argus decreased their target price on shares of Goodyear Tire & Rubber from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. BidaskClub upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Wolfe Research began coverage on shares of Goodyear Tire & Rubber in a report on Tuesday, October 2nd. They issued an “outperform” rating for the company. Berenberg Bank cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Friday, August 31st. Finally, Longbow Research reiterated a “hold” rating on shares of Goodyear Tire & Rubber in a report on Monday, August 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target 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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