Smith Graham & Co. Investment Advisors LP Boosts Holdings in Goodyear Tire & Rubber Co (GT)

Smith Graham & Co. Investment Advisors LP grew its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,010 shares of the company’s stock after acquiring an additional 14,900 shares during the period. Smith Graham & Co. Investment Advisors LP owned about 0.09% of Goodyear Tire & Rubber worth $5,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of GT. Levin Capital Strategies L.P. grew its stake in shares of Goodyear Tire & Rubber by 199.2% in the second quarter. Levin Capital Strategies L.P. now owns 3,752,409 shares of the company’s stock worth $87,394,000 after acquiring an additional 2,498,420 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Goodyear Tire & Rubber by 486.4% during the 3rd quarter. Bank of Montreal Can now owns 1,072,935 shares of the company’s stock worth $25,096,000 after purchasing an additional 889,967 shares during the last quarter. Sound Shore Management Inc. CT lifted its position in shares of Goodyear Tire & Rubber by 15.5% during the 2nd quarter. Sound Shore Management Inc. CT now owns 5,815,665 shares of the company’s stock worth $135,447,000 after purchasing an additional 778,961 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Goodyear Tire & Rubber by 35.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,803,959 shares of the company’s stock worth $42,057,000 after purchasing an additional 472,875 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 5.3% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 8,234,533 shares of the company’s stock worth $191,782,000 after purchasing an additional 413,565 shares during the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.

GT has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, July 13th. Goldman Sachs Group cut shares of Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Guggenheim reaffirmed a “hold” rating and set a $21.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, July 20th. Finally, Longbow Research reaffirmed a “hold” rating on shares of Goodyear Tire & Rubber in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.38.



Shares of GT opened at $21.58 on Wednesday. Goodyear Tire & Rubber Co has a 1-year low of $19.25 and a 1-year high of $36.07. The firm has a market capitalization of $4.74 billion, a P/E ratio of 6.92 and a beta of 1.69. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 0.76.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, October 26th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.08). Goodyear Tire & Rubber had a net margin of 3.11% and a return on equity of 13.84%. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same period last year, the firm earned $0.70 earnings per share. Goodyear Tire & Rubber’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current fiscal 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 given a $0.14 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.56 dividend on an annualized basis and a yield of 2.59%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 17.95%.

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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