BB&T Securities LLC grew its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,779 shares of the company’s stock after acquiring an additional 1,291 shares during the period. BB&T Securities LLC’s holdings in Goodyear Tire & Rubber were worth $415,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in Goodyear Tire & Rubber during the second quarter worth about $20,306,000. Marshall Wace LLP bought a new position in Goodyear Tire & Rubber during the second quarter worth about $7,010,000. Natixis grew its holdings in Goodyear Tire & Rubber by 304.1% during the second quarter. Natixis now owns 503,014 shares of the company’s stock worth $7,696,000 after purchasing an additional 378,536 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Goodyear Tire & Rubber by 33.6% during the second quarter. Parametric Portfolio Associates LLC now owns 1,430,043 shares of the company’s stock worth $21,880,000 after purchasing an additional 360,051 shares during the period. Finally, First Trust Advisors LP grew its holdings in Goodyear Tire & Rubber by 91.4% during the second quarter. First Trust Advisors LP now owns 705,683 shares of the company’s stock worth $10,797,000 after purchasing an additional 337,061 shares during the period. Institutional investors own 82.00% of the company’s stock.
GT has been the subject of a number of research analyst reports. Citigroup reduced their price target on Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. BidaskClub upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Saturday, October 19th. Northcoast Research cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating in a report on Tuesday, October 29th. ValuEngine upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Exane BNP Paribas began coverage on Goodyear Tire & Rubber in a report on Friday, August 16th. They set an “outperform” rating and a $15.00 price target for the company. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.46.
Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). Goodyear Tire & Rubber had a return on equity of 6.50% and a net margin of 1.28%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that Goodyear Tire & Rubber Co will post 1.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, October 31st. 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.
Further Reading: The primary rules of Elliott Wave theory
Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goodyear Tire & Rubber Co (NASDAQ:GT).
Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.