Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 119.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,353 shares of the company’s stock after purchasing an additional 32,805 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Goodyear Tire & Rubber were worth $2,047,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GT. Sound Shore Management Inc. CT lifted its position in shares of Goodyear Tire & Rubber by 38.7% in the third quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock valued at $133,796,000 after acquiring an additional 1,123,573 shares in the last quarter. Hexavest Inc. lifted its position in shares of Goodyear Tire & Rubber by 65.9% in the fourth quarter. Hexavest Inc. now owns 1,631,370 shares of the company’s stock valued at $52,710,000 after acquiring an additional 648,313 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Goodyear Tire & Rubber by 94.1% in the second quarter. Parametric Portfolio Associates LLC now owns 1,296,130 shares of the company’s stock valued at $45,313,000 after acquiring an additional 628,221 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $15,827,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Goodyear Tire & Rubber by 10.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after purchasing an additional 414,651 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.
Several research firms recently commented on GT. Zacks Investment Research raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, January 29th. BidaskClub raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Longbow Research initiated coverage on Goodyear Tire & Rubber in a research note on Wednesday, January 31st. They set a “neutral” rating for the company. JPMorgan Chase & Co. cut their target price on Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Finally, Citigroup cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $36.00 in a research note on Monday, October 30th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Goodyear Tire & Rubber presently has a consensus rating of “Buy” and a consensus target price of $37.30.
In related news, SVP Jean Claude Kihn sold 7,500 shares of Goodyear Tire & Rubber stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.12, for a total value of $240,900.00. Following the completion of the transaction, the senior vice president now directly owns 51,848 shares in the company, valued at $1,665,357.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) traded down $0.76 during midday trading on Friday, hitting $29.99. The stock had a trading volume of 7,258,393 shares, compared to its average volume of 3,220,000. Goodyear Tire & Rubber Co has a twelve month low of $28.81 and a twelve month high of $37.20. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.21 and a quick ratio of 0.76. The firm has a market capitalization of $7,390.00, a PE ratio of 22.38, a PEG ratio of 0.66 and a beta of 1.60.
Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.23. Goodyear Tire & Rubber had a return on equity of 15.70% and a net margin of 2.25%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. analysts expect that Goodyear Tire & Rubber Co will post 3.68 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be issued a $0.14 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.87%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 41.79%.
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Goodyear Tire & Rubber Profile
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.
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