Mackenzie Financial Corp Purchases 272,901 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Mackenzie Financial Corp boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GTGet Rating) by 573.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 320,528 shares of the company’s stock after purchasing an additional 272,901 shares during the quarter. Mackenzie Financial Corp’s holdings in Goodyear Tire & Rubber were worth $3,433,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GT. SeaCrest Wealth Management LLC purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $27,000. Ancora Advisors LLC grew its stake in shares of Goodyear Tire & Rubber by 142.9% in the first quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of Goodyear Tire & Rubber in the first quarter worth $59,000. Global Retirement Partners LLC boosted its position in shares of Goodyear Tire & Rubber by 28.7% during the second quarter. Global Retirement Partners LLC now owns 9,003 shares of the company’s stock valued at $96,000 after buying an additional 2,009 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Goodyear Tire & Rubber by 12.8% during the first quarter. Signaturefd LLC now owns 7,024 shares of the company’s stock valued at $100,000 after buying an additional 796 shares during the last quarter. 80.88% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Up 2.7 %

GT stock opened at $11.02 on Monday. The Goodyear Tire & Rubber Company has a fifty-two week low of $9.76 and a fifty-two week high of $24.17. The business’s 50-day moving average is $11.42 and its two-hundred day moving average is $12.10. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.68 and a current ratio of 1.33. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 3.67 and a beta of 1.92.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last posted its earnings results on Monday, October 31st. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.21). Goodyear Tire & Rubber had a net margin of 4.19% and a return on equity of 9.74%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the prior year, the company posted $0.72 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GT. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. Citigroup dropped their price objective on Goodyear Tire & Rubber from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Goodyear Tire & Rubber from $14.00 to $10.00 in a research report on Wednesday, November 2nd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.19.

Goodyear Tire & Rubber Profile

(Get Rating)

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

Further Reading

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

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