Bbva Compass Bancshares Inc. Reduces Position in Goodyear Tire & Rubber Co (GT)

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Bbva Compass Bancshares Inc. reduced its position in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 4.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 91,034 shares of the company’s stock after selling 4,483 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Goodyear Tire & Rubber were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. raised its position in shares of Goodyear Tire & Rubber by 80.7% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 5,279 shares of the company’s stock valued at $123,000 after acquiring an additional 2,358 shares in the last quarter. Exane Asset Management acquired a new stake in Goodyear Tire & Rubber in the second quarter worth $193,000. Oppenheimer Asset Management Inc. acquired a new stake in Goodyear Tire & Rubber in the third quarter worth $205,000. Baird Financial Group Inc. acquired a new stake in Goodyear Tire & Rubber in the second quarter worth $209,000. Finally, Vident Investment Advisory LLC increased its position in Goodyear Tire & Rubber by 33.7% in the second quarter. Vident Investment Advisory LLC now owns 10,101 shares of the company’s stock worth $235,000 after buying an additional 2,547 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on GT shares. Zacks Investment Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 13th. Goldman Sachs Group lowered Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Guggenheim reaffirmed a “hold” rating and issued a $21.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, July 20th. Finally, Longbow Research reaffirmed a “hold” rating on shares of Goodyear Tire & Rubber in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.88.

NASDAQ:GT opened at $21.65 on Tuesday. Goodyear Tire & Rubber Co has a 1 year low of $19.25 and a 1 year high of $36.07. The firm has a market capitalization of $5.02 billion, a PE ratio of 6.94 and a beta of 1.73. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, October 26th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.08). Goodyear Tire & Rubber had a return on equity of 13.84% and a net margin of 3.11%. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the company posted $0.70 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Goodyear Tire & Rubber Co will post 2.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. Goodyear Tire & Rubber’s payout ratio is 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: What are the Different Types of Leveraged Buyouts?

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).

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

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