Flinton Capital Management LLC Buys 75,582 Shares of Goodyear Tire & Rubber Co (GT)

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Flinton Capital Management LLC increased its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 38.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,686 shares of the company’s stock after acquiring an additional 75,582 shares during the quarter. Flinton Capital Management LLC owned approximately 0.12% of Goodyear Tire & Rubber worth $6,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. LSV Asset Management lifted its holdings in Goodyear Tire & Rubber by 2.1% in the 2nd quarter. LSV Asset Management now owns 11,346,089 shares of the company’s stock worth $264,250,000 after buying an additional 235,125 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Goodyear Tire & Rubber by 5.3% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 8,234,533 shares of the company’s stock worth $191,782,000 after buying an additional 413,565 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Goodyear Tire & Rubber by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,903,172 shares of the company’s stock worth $160,787,000 after buying an additional 290,006 shares during the period. Sound Shore Management Inc. CT lifted its holdings in Goodyear Tire & Rubber by 15.5% in the 2nd quarter. Sound Shore Management Inc. CT now owns 5,815,665 shares of the company’s stock worth $135,447,000 after buying an additional 778,961 shares during the period. Finally, Levin Capital Strategies L.P. lifted its holdings in Goodyear Tire & Rubber by 199.2% in the 2nd quarter. Levin Capital Strategies L.P. now owns 3,752,409 shares of the company’s stock worth $87,394,000 after buying an additional 2,498,420 shares during the period. Institutional investors and hedge funds own 86.67% of the company’s stock.

Several equities research analysts have weighed in on the company. Citigroup dropped their price objective on Goodyear Tire & Rubber from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, July 30th. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. BidaskClub cut Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday. Morgan Stanley cut Goodyear Tire & Rubber from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $33.00 to $23.00 in a report on Monday, August 13th. Finally, Jefferies Financial Group set a $30.00 price objective on Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $29.33.

GT opened at $23.42 on Thursday. The company has a market capitalization of $5.38 billion, a PE ratio of 8.05 and a beta of 1.73. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.36 and a quick ratio of 0.75. Goodyear Tire & Rubber Co has a 52 week low of $20.75 and a 52 week high of $36.07.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 27th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Goodyear Tire & Rubber had a return on equity of 14.04% and a net margin of 1.69%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. research analysts expect that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Tuesday, July 31st. Goodyear Tire & Rubber’s payout ratio is presently 17.95%.

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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