Texas Permanent School Fund Sells 5,318 Shares of Goodyear Tire & Rubber Co (GT)

Share on StockTwits

Texas Permanent School Fund lowered its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 9.1% during the third quarter, HoldingsChannel reports. The firm owned 53,207 shares of the company’s stock after selling 5,318 shares during the quarter. Texas Permanent School Fund’s holdings in Goodyear Tire & Rubber were worth $1,245,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GT. LSV Asset Management raised 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 buying an additional 235,125 shares during the last quarter. Diamond Hill Capital Management Inc. raised 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 buying an additional 413,565 shares during the last quarter. Dimensional Fund Advisors LP raised 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 buying an additional 290,006 shares during the last quarter. Sound Shore Management Inc. CT raised 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 buying an additional 778,961 shares during the last quarter. Finally, Levin Capital Strategies L.P. raised 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 buying an additional 2,498,420 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Shares of NASDAQ:GT opened at $21.99 on Friday. Goodyear Tire & Rubber Co has a 52-week low of $19.25 and a 52-week high of $36.07. The stock has a market capitalization of $5.17 billion, a PE ratio of 7.05 and a beta of 1.73. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 0.76.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that Goodyear Tire & Rubber Co will post 2.71 earnings per share for the current fiscal year.

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

A number of equities research analysts have commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $32.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, July 13th. Goldman Sachs Group cut Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 17th. Guggenheim restated a “hold” rating and issued a $21.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, July 20th. Longbow Research restated a “hold” rating on shares of Goodyear Tire & Rubber in a research note on Friday, July 27th. Finally, Citigroup reduced their price objective on Goodyear Tire & Rubber from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $27.88.

TRADEMARK VIOLATION WARNING: “Texas Permanent School Fund Sells 5,318 Shares of Goodyear Tire & Rubber Co (GT)” was first published by BBNS and is the sole property of of BBNS. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://baseballnewssource.com/2018/11/10/texas-permanent-school-fund-sells-5318-shares-of-goodyear-tire-rubber-co-gt/2971878.html.

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.

Recommended Story: Short Selling

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)

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.