KBC Group NV raised its position in Goodyear Tire & Rubber Co (NASDAQ:GT) by 162.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 84,253 shares of the company’s stock after buying an additional 52,211 shares during the period. KBC Group NV’s holdings in Goodyear Tire & Rubber were worth $1,719,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GT. Deutsche Bank AG boosted its position in shares of Goodyear Tire & Rubber by 137.7% in the 3rd quarter. Deutsche Bank AG now owns 886,072 shares of the company’s stock worth $20,719,000 after purchasing an additional 513,351 shares during the last quarter. Bank of Montreal Can raised its stake in Goodyear Tire & Rubber by 486.4% during the 3rd quarter. Bank of Montreal Can now owns 1,072,935 shares of the company’s stock worth $25,096,000 after buying an additional 889,967 shares during the period. WEALTHFRONT Corp acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth $712,000. Cornerstone Wealth Management LLC raised its stake in Goodyear Tire & Rubber by 748.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 181,508 shares of the company’s stock worth $5,546,000 after buying an additional 160,118 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Goodyear Tire & Rubber by 3.0% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 667,496 shares of the company’s stock worth $15,613,000 after buying an additional 19,574 shares during the period. Hedge funds and other institutional investors own 89.49% of the company’s stock.
GT opened at $18.69 on Monday. Goodyear Tire & Rubber Co has a 1 year low of $18.49 and a 1 year high of $31.79. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 8.06, a PEG ratio of -1.48 and a beta of 1.60. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.34.
Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, February 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.09). The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.04 billion. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.24%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. On average, analysts expect that Goodyear Tire & Rubber Co will post 2.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be given a $0.16 dividend. The ex-dividend date is Thursday, January 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. Goodyear Tire & Rubber’s payout ratio is currently 27.59%.
Several analysts recently commented on the company. Argus downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Monday. Longbow Research downgraded Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating in a research note on Monday. ValuEngine raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Monday, January 21st. Zacks Investment Research downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Finally, BidaskClub raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $24.75.
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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.
Further Reading: Liquidity
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