Longer Investments adds Goodyear Tire & Rubber Co (GT) to its portfolio

Goodyear Tire & Rubber Co (GT) : Longer Investments added new position in Goodyear Tire & Rubber Co during the most recent quarter end. The investment management firm now holds 44,070 shares of Goodyear Tire & Rubber Co which is valued at $1,173,584 , the company said in a statement filed on Jul 19, 2016 with the SEC.Goodyear Tire & Rubber Co makes up approximately 1.25% of Longer Investments’s portfolio.

Other Hedge Funds, Including , Sonora Investment Management reduced its stake in GT by selling 602 shares or 43.72% in the most recent quarter. The Hedge Fund company now holds 775 shares of GT which is valued at $20,553. Goodyear Tire & Rubber Co makes up approx 0.01% of Sonora Investment Management’s portfolio. Gradient Investments added GT to its portfolio by purchasing 250 company shares during the most recent quarter which is valued at $6,630.Daiwa Sb Investments Ltd. reduced its stake in GT by selling 5,880 shares or 19.91% in the most recent quarter. The Hedge Fund company now holds 23,650 shares of GT which is valued at $627,435. Goodyear Tire & Rubber Co makes up approx 0.18% of Daiwa Sb Investments Ltd.’s portfolio.

Goodyear Tire & Rubber Co opened for trading at $26.59 and hit $26.8 on the upside on Wednesday, eventually ending the session at $26.63, with a gain of 0.38% or 0.1 points. The heightened volatility saw the trading volume jump to 15,77,232 shares. Company has a market cap of $7,082 M.

On the company’s financial health, Goodyear Tire & Rubber Co reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.71. The company had revenue of $3691.00 million for the quarter, compared to analysts expectations of $3921.92 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Investors should note that on Jul 13, 2016, Goodyear Tire & Rubber Co announced a cash dividend of $0.0700. The company’s management has announced Jul 28, 2016 as the ex-dividend date and fixed the record date on Aug 1, 2016. The payable date has been fixed on Sep 1, 2016.

Many Wall Street Analysts have commented on Goodyear Tire & Rubber Co. Goodyear Tire & Rubber Co was Upgraded by Standpoint Research to ” Buy” on May 20, 2016.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development manufacture distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe Middle East and Africa (EMEA); Latin America and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles motorcycles trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear Dunlop Kelly Debica Sava and Fulda brands and various other Goodyear owned-house brands and the private-label brands of certain customers.

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