Clear Harbor Asset Management LLC trimmed its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 13.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,994 shares of the company’s stock after selling 16,929 shares during the period. Clear Harbor Asset Management LLC’s holdings in Goodyear Tire & Rubber were worth $3,554,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of GT. Schroder Investment Management Group bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at about $160,000. Nationwide Fund Advisors lifted its holdings in Goodyear Tire & Rubber by 27.5% during the 2nd quarter. Nationwide Fund Advisors now owns 266,629 shares of the company’s stock valued at $9,321,000 after buying an additional 57,567 shares in the last quarter. Stevens Capital Management LP bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at about $484,000. Profund Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 22.4% during the 2nd quarter. Profund Advisors LLC now owns 6,985 shares of the company’s stock valued at $244,000 after buying an additional 1,277 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in Goodyear Tire & Rubber by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,560 shares of the company’s stock valued at $334,000 after purchasing an additional 280 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.
Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) traded up $0.24 during midday trading on Wednesday, reaching $29.58. 4,696,082 shares of the company’s stock traded hands, compared to its average volume of 3,500,000. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 1.21. Goodyear Tire & Rubber Co has a twelve month low of $28.81 and a twelve month high of $37.20. The firm has a market cap of $7,290.00, a PE ratio of 22.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.76 by $0.23. Goodyear Tire & Rubber had a net margin of 2.25% and a return on equity of 15.70%. 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 business posted $0.95 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts forecast that Goodyear Tire & Rubber Co will post 3.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio is currently 41.79%.
A number of research firms have commented on GT. BidaskClub downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday. TheStreet downgraded shares of Goodyear Tire & Rubber from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Guggenheim set a $32.00 price objective on shares of Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Friday, February 9th. Longbow Research assumed coverage on shares of Goodyear Tire & Rubber in a research report on Wednesday, January 31st. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, January 29th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $37.30.
In related news, SVP Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction on Friday, December 1st. The shares were 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 approximately $1,665,357.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
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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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