Goodyear Tire & Rubber Co (NASDAQ:GT) Shares Bought by NEXT Financial Group Inc

NEXT Financial Group Inc raised its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 7,887.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,323 shares of the company’s stock after acquiring an additional 23,031 shares during the period. NEXT Financial Group Inc’s holdings in Goodyear Tire & Rubber were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Services Automobile Association boosted its stake in Goodyear Tire & Rubber by 5.8% during the fourth quarter. United Services Automobile Association now owns 178,494 shares of the company’s stock valued at $3,643,000 after buying an additional 9,860 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Goodyear Tire & Rubber by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,952,083 shares of the company’s stock valued at $141,894,000 after buying an additional 253,943 shares during the last quarter. Mackay Shields LLC boosted its stake in Goodyear Tire & Rubber by 103.4% during the fourth quarter. Mackay Shields LLC now owns 76,876 shares of the company’s stock valued at $1,569,000 after buying an additional 39,074 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in Goodyear Tire & Rubber during the fourth quarter valued at approximately $717,000. Finally, Two Sigma Advisers LP boosted its stake in Goodyear Tire & Rubber by 345.1% during the fourth quarter. Two Sigma Advisers LP now owns 895,771 shares of the company’s stock valued at $18,283,000 after buying an additional 694,500 shares during the last quarter. Institutional investors own 84.91% of the company’s stock.

A number of brokerages have issued reports on GT. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. KeyCorp reiterated a “buy” rating and issued a $235.00 price target on shares of Workday in a report on Wednesday, May 22nd. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Morgan Stanley set a $12.00 price target on Adient and gave the stock a “sell” rating in a report on Wednesday, June 26th. Finally, Longbow Research upgraded Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price target on the stock in a report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.71.

GT stock traded up $0.63 during trading on Tuesday, hitting $15.43. The stock had a trading volume of 286,122 shares, compared to its average volume of 2,280,558. The stock has a market cap of $3.44 billion, a PE ratio of 6.67 and a beta of 1.74. The business’s 50-day moving average price is $14.93. Goodyear Tire & Rubber Co has a twelve month low of $13.23 and a twelve month high of $25.41. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 0.70.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. Goodyear Tire & Rubber had a return on equity of 9.59% and a net margin of 3.65%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Goodyear Tire & Rubber Co will post 1.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 4.15%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 27.59%.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company 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.

Read More: Exchange-Traded Funds (ETFs)

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

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