Koch Industries Inc. Takes $449,000 Position in Goodyear Tire & Rubber Co (GT)


Koch Industries Inc. purchased a new position in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,884 shares of the company’s stock, valued at approximately $449,000.


Several other institutional investors also recently made changes to their positions in GT. D.A. Davidson & CO. bought a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $233,000. Cornerstone Capital Management Holdings LLC. grew its holdings in Goodyear Tire & Rubber by 6.2% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 46,313 shares of the company’s stock worth $1,496,000 after buying an additional 2,684 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in Goodyear Tire & Rubber by 12.1% in the 4th quarter. OppenheimerFunds Inc. now owns 73,773 shares of the company’s stock worth $2,384,000 after buying an additional 7,965 shares in the last quarter. Smith Moore & CO. bought a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $203,000. Finally, Banco de Sabadell S.A bought a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $2,295,000. Institutional investors and hedge funds own 88.31% of the company’s stock.


Get Goodyear Tire & Rubber alerts:

A number of equities analysts recently issued reports on the company. BidaskClub lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Longbow Research reissued a “hold” rating on shares of Goodyear Tire & Rubber in a report on Tuesday, April 17th. Morgan Stanley decreased their price target on Goodyear Tire & Rubber from $43.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, March 22nd. Jefferies Financial Group set a $38.00 price target on Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Wednesday, April 4th. Finally, ValuEngine lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Goodyear Tire & Rubber presently has a consensus rating of “Hold” and a consensus target price of $35.45.


Shares of NASDAQ GT opened at $25.16 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.31 and a quick ratio of 0.73. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 8.06 and a beta of 1.74. Goodyear Tire & Rubber Co has a 1 year low of $24.12 and a 1 year high of $36.52.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, April 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.80 billion. Goodyear Tire & Rubber had a return on equity of 14.36% and a net margin of 1.64%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. equities research analysts forecast that Goodyear Tire & Rubber Co will post 3.52 earnings per share for the current year.


The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Tuesday, May 1st were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Monday, April 30th. Goodyear Tire & Rubber’s dividend 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.


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)