The Goodyear Tire & Rubber Company (GT) Shares Bought by Quantum Capital Management

Quantum Capital Management increased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 211,678 shares of the company’s stock after acquiring an additional 12,688 shares during the quarter. The Goodyear Tire & Rubber comprises approximately 1.7% of Quantum Capital Management’s portfolio, making the stock its 24th biggest position. Quantum Capital Management owned 0.09% of The Goodyear Tire & Rubber worth $7,038,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Commonwealth Equity Services Inc raised its holdings in The Goodyear Tire & Rubber by 19.6% in the third quarter. Commonwealth Equity Services Inc now owns 78,039 shares of the company’s stock worth $2,594,000 after purchasing an additional 12,795 shares in the last quarter. Quantbot Technologies LP bought a new position in The Goodyear Tire & Rubber in the third quarter worth $885,000. Quadrant Capital Management LLC bought a new position in The Goodyear Tire & Rubber in the third quarter worth $1,224,000. Worth Venture Partners LLC raised its holdings in The Goodyear Tire & Rubber by 13.0% in the third quarter. Worth Venture Partners LLC now owns 29,600 shares of the company’s stock worth $984,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Comerica Bank raised its holdings in The Goodyear Tire & Rubber by 2.9% in the third quarter. Comerica Bank now owns 64,596 shares of the company’s stock worth $2,013,000 after purchasing an additional 1,792 shares in the last quarter. 91.93% of the stock is owned by institutional investors.

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In related news, insider Jean Claude Kihn sold 7,500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $33.26, for a total transaction of $249,450.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 22,712 shares of company stock worth $728,079 over the last ninety days. 1.40% of the stock is currently owned by insiders.

The Goodyear Tire & Rubber Company (GT) traded down $0.30 during trading on Thursday, hitting $29.06. The company had a trading volume of 2,542,700 shares, compared to its average volume of 2,903,548. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. The Goodyear Tire & Rubber Company has a 12 month low of $28.81 and a 12 month high of $37.20. The stock has a market capitalization of $7,190.00, a PE ratio of 9.47, a PEG ratio of 0.82 and a beta of 1.51.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, October 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the firm posted $1.17 earnings per share. The Goodyear Tire & Rubber’s revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, October 31st. This is a boost from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 annualized dividend and a dividend yield of 1.93%. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 14.47%.

A number of research firms have issued reports on GT. BidaskClub downgraded The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Guggenheim downgraded The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a report on Wednesday, November 1st. Zacks Investment Research downgraded The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. J P Morgan Chase & Co reduced their price target on The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Finally, Citigroup Inc. downgraded The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and reduced their price target for the company from $38.00 to $36.00 in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $37.55.

The Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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

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