Goodyear Tire & Rubber Co (GT) Holdings Reduced by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,463 shares of the company’s stock after selling 6,344 shares during the period. Public Employees Retirement System of Ohio’s holdings in Goodyear Tire & Rubber were worth $1,921,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. LSV Asset Management increased its stake in Goodyear Tire & Rubber by 2.1% in the second quarter. LSV Asset Management now owns 11,346,089 shares of the company’s stock valued at $264,250,000 after purchasing an additional 235,125 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Goodyear Tire & Rubber by 5.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 8,234,533 shares of the company’s stock valued at $191,782,000 after purchasing an additional 413,565 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Goodyear Tire & Rubber by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,903,172 shares of the company’s stock valued at $160,787,000 after purchasing an additional 290,006 shares during the last quarter. Sound Shore Management Inc. CT increased its stake in Goodyear Tire & Rubber by 15.5% in the second quarter. Sound Shore Management Inc. CT now owns 5,815,665 shares of the company’s stock valued at $135,447,000 after purchasing an additional 778,961 shares during the last quarter. Finally, Levin Capital Strategies L.P. increased its stake in 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 valued at $87,394,000 after purchasing an additional 2,498,420 shares during the last quarter. Institutional investors own 86.52% of the company’s stock.

NASDAQ:GT opened at $20.80 on Thursday. Goodyear Tire & Rubber Co has a 1-year low of $20.61 and a 1-year high of $36.07. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.36. The firm has a market capitalization of $5.54 billion, a P/E ratio of 6.67 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, July 27th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. Goodyear Tire & Rubber had a net margin of 1.69% and a return on equity of 14.04%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the firm posted $0.70 EPS. Goodyear Tire & Rubber’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current fiscal year.

The company also recently disclosed 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. This represents a $0.56 dividend on an annualized basis and a yield of 2.69%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 17.95%.

A number of equities analysts have recently issued reports on GT shares. Zacks Investment Research lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Northcoast Research restated a “buy” rating on shares of Goodyear Tire & Rubber in a research report on Monday, June 25th. Jefferies Financial Group restated a “buy” rating and set a $32.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 13th. Goldman Sachs Group lowered shares of Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, Guggenheim restated a “hold” rating and set a $21.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.33.

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. 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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