Goodyear Tire & Rubber Co (GT) Shares Sold by Psagot Investment House Ltd.

Psagot Investment House Ltd. cut its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 34.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,000 shares of the company’s stock after selling 2,600 shares during the period. Psagot Investment House Ltd.’s holdings in Goodyear Tire & Rubber were worth $117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. lifted its position in Goodyear Tire & Rubber by 80.7% during the second quarter. Itau Unibanco Holding S.A. now owns 5,279 shares of the company’s stock valued at $123,000 after buying an additional 2,358 shares in the last quarter. Exane Asset Management acquired a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $193,000. Oppenheimer Asset Management Inc. acquired a new position in Goodyear Tire & Rubber during the third quarter valued at approximately $205,000. Baird Financial Group Inc. acquired a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $209,000. Finally, Vident Investment Advisory LLC lifted its position in Goodyear Tire & Rubber by 33.7% during the second quarter. Vident Investment Advisory LLC now owns 10,101 shares of the company’s stock valued at $235,000 after buying an additional 2,547 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. BidaskClub raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Argus reduced their price target on shares of Goodyear Tire & Rubber to $30.00 and set an “average” rating on the stock in a research report on Monday, August 6th. They noted that the move was a valuation call. Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, July 30th. Longbow Research reaffirmed a “hold” rating on shares of Goodyear Tire & Rubber in a research report on Friday, July 27th. Finally, Wolfe Research started coverage on shares of Goodyear Tire & Rubber in a research report on Tuesday, October 2nd. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Goodyear Tire & Rubber presently has a consensus rating of “Hold” and an average target price of $27.88.

GT opened at $21.99 on Friday. The company has a market cap of $5.17 billion, a PE 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. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.34.

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

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

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Goodyear Tire & Rubber Company Profile

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.

Further Reading: Bear Market

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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