Goodyear Tire & Rubber Co (NASDAQ:GT) Shares Sold by IHT Wealth Management LLC

IHT Wealth Management LLC decreased its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 39.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,390 shares of the company’s stock after selling 8,805 shares during the quarter. IHT Wealth Management LLC’s holdings in Goodyear Tire & Rubber were worth $193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Parallel Advisors LLC raised its position in shares of Goodyear Tire & Rubber by 547.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,155 shares of the company’s stock worth $31,000 after buying an additional 1,822 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Goodyear Tire & Rubber by 28.8% in the 3rd quarter. Global Retirement Partners LLC now owns 2,950 shares of the company’s stock worth $42,000 after purchasing an additional 659 shares during the period. Howe & Rusling Inc. acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $50,000. HM Payson & Co. acquired a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at about $58,000. Finally, Smithfield Trust Co. acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $72,000. Institutional investors own 83.90% of the company’s stock.

GT opened at $15.62 on Wednesday. The firm has a market capitalization of $3.72 billion, a P/E ratio of 6.73 and a beta of 1.74. The firm’s 50 day moving average is $16.03 and its 200-day moving average is $14.37. Goodyear Tire & Rubber Co has a 52-week low of $10.74 and a 52-week high of $23.73. The company has a quick ratio of 0.75, a current ratio of 1.33 and a debt-to-equity ratio of 1.24.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, October 25th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Goodyear Tire & Rubber had a net margin of 1.28% and a return on equity of 6.50%. Goodyear Tire & Rubber’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. Equities analysts expect that Goodyear Tire & Rubber Co will post 1.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.10%. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

Several research firms recently weighed in on GT. Northcoast Research lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating in a report on Tuesday, October 29th. ValuEngine upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. BidaskClub raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Exane BNP Paribas began coverage on Goodyear Tire & Rubber in a research report on Friday, August 16th. They issued an “outperform” rating and a $15.00 price objective on the stock. Finally, BNP Paribas initiated coverage on Goodyear Tire & Rubber in a research note on Friday, August 16th. They set an “outperform” rating and a $10.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.46.

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.

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

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