Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Goodyear Tire & Rubber Co (NASDAQ:GT)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 78.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,617 shares of the company’s stock after selling 49,543 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Goodyear Tire & Rubber were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GT. Crossmark Global Holdings Inc. raised its holdings in Goodyear Tire & Rubber by 5.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 40,700 shares of the company’s stock valued at $623,000 after acquiring an additional 2,048 shares during the period. Exane Derivatives raised its holdings in Goodyear Tire & Rubber by 313.8% during the 2nd quarter. Exane Derivatives now owns 66,202 shares of the company’s stock valued at $1,013,000 after acquiring an additional 50,203 shares during the period. Neuburgh Advisers LLC raised its holdings in Goodyear Tire & Rubber by 68.1% during the 1st quarter. Neuburgh Advisers LLC now owns 152,306 shares of the company’s stock valued at $2,764,000 after acquiring an additional 61,710 shares during the period. Swiss National Bank raised its holdings in Goodyear Tire & Rubber by 1.7% during the 1st quarter. Swiss National Bank now owns 778,800 shares of the company’s stock valued at $14,135,000 after acquiring an additional 13,200 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in Goodyear Tire & Rubber by 23.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 807,051 shares of the company’s stock valued at $14,613,000 after acquiring an additional 151,978 shares during the period. Hedge funds and other institutional investors own 80.07% of the company’s stock.

A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Saturday, August 10th. Longbow Research raised shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 target price on the stock in a report on Thursday, June 6th. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Exane BNP Paribas assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday. They set an “outperform” rating and a $15.00 target price on the stock. Finally, KeyCorp assumed coverage on shares of Goodyear Tire & Rubber in a report on Wednesday, May 22nd. They set a “sector weight” rating and a $14.93 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $18.07.



Shares of Goodyear Tire & Rubber stock traded down $0.03 during trading on Tuesday, hitting $11.67. The stock had a trading volume of 156,812 shares, compared to its average volume of 4,545,389. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 5.04 and a beta of 1.71. Goodyear Tire & Rubber Co has a 12 month low of $10.97 and a 12 month high of $24.85. The business’s 50-day moving average is $13.77 and its 200 day moving average is $16.68. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 26th. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.06). The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.77 billion. Goodyear Tire & Rubber had a net margin of 3.02% and a return on equity of 7.66%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. As a group, equities analysts expect that Goodyear Tire & Rubber Co will post 1.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be paid a $0.16 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.64 dividend on an annualized basis and a yield of 5.48%. Goodyear Tire & Rubber’s dividend payout ratio is presently 27.59%.

Goodyear Tire & Rubber Profile

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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