Swiss National Bank Sells 353,800 Shares of Goodyear Tire & Rubber Co (NASDAQ:GT)

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Swiss National Bank lessened its position in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 45.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,000 shares of the company’s stock after selling 353,800 shares during the quarter. Swiss National Bank owned about 0.18% of Goodyear Tire & Rubber worth $6,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investors Research Corp purchased a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at $25,000. Quadrant Capital Group LLC boosted its holdings in shares of Goodyear Tire & Rubber by 1,678.5% in the 1st quarter. Quadrant Capital Group LLC now owns 2,650 shares of the company’s stock valued at $47,000 after acquiring an additional 2,501 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Goodyear Tire & Rubber by 46.3% in the 1st quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock valued at $94,000 after acquiring an additional 1,645 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at $196,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at $198,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.

Several analysts have recently commented on GT shares. KeyCorp started coverage on shares of Goodyear Tire & Rubber in a report on Wednesday, May 22nd. They issued a “sector weight” rating and a $14.93 price objective on the stock. Citigroup dropped their price objective on shares of Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. BidaskClub downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Saturday, August 10th. Finally, ValuEngine downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.07.

NASDAQ:GT opened at $10.97 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.73 and a current ratio of 1.33. The company has a fifty day moving average of $13.21 and a two-hundred day moving average of $16.30. The stock has a market capitalization of $2.63 billion, a PE ratio of 4.73 and a beta of 1.71. Goodyear Tire & Rubber Co has a fifty-two week low of $10.90 and a fifty-two week high of $24.85.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.06). The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.77 billion. Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. Research analysts forecast that Goodyear Tire & Rubber Co will post 1.53 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Wednesday, July 31st. Goodyear Tire & Rubber’s dividend payout ratio is presently 27.59%.

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. The company 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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