Levin Capital Strategies L.P. Has $87.50 Million Holdings in Goodyear Tire & Rubber Co (GT)

Levin Capital Strategies L.P. lessened its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,287,158 shares of the company’s stock after selling 348,065 shares during the quarter. Goodyear Tire & Rubber comprises about 1.9% of Levin Capital Strategies L.P.’s holdings, making the stock its 19th largest holding. Levin Capital Strategies L.P.’s holdings in Goodyear Tire & Rubber were worth $87,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Parkside Investments LLC raised its position in shares of Goodyear Tire & Rubber by 35.9% during the 4th quarter. Parkside Investments LLC now owns 81,402 shares of the company’s stock valued at $1,661,000 after acquiring an additional 21,510 shares in the last quarter. M&T Bank Corp raised its position in shares of Goodyear Tire & Rubber by 10.2% during the 4th quarter. M&T Bank Corp now owns 21,116 shares of the company’s stock valued at $431,000 after acquiring an additional 1,948 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Goodyear Tire & Rubber by 33.4% during the 4th quarter. LS Investment Advisors LLC now owns 33,173 shares of the company’s stock valued at $677,000 after acquiring an additional 8,314 shares in the last quarter. Wilsey Asset Management Inc. raised its position in shares of Goodyear Tire & Rubber by 4.5% during the 4th quarter. Wilsey Asset Management Inc. now owns 400,963 shares of the company’s stock valued at $8,104,000 after acquiring an additional 17,292 shares in the last quarter. Finally, Financial Counselors Inc. raised its position in shares of Goodyear Tire & Rubber by 0.4% during the 4th quarter. Financial Counselors Inc. now owns 144,076 shares of the company’s stock valued at $2,941,000 after acquiring an additional 517 shares in the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.

GT has been the topic of several analyst reports. Longbow Research lowered Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating in a research report on Monday. Jefferies Financial Group set a $26.00 target price on Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Tuesday, December 4th. Zacks Investment Research lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Thursday, January 17th. Morgan Stanley dropped their target price on Goodyear Tire & Rubber from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, November 14th. Finally, ValuEngine lowered Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Friday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.75.

Shares of GT opened at $18.22 on Monday. The firm has a market cap of $4.35 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of -1.48 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. Goodyear Tire & Rubber Co has a one year low of $18.49 and a one year high of $31.79.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, February 8th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.09). The business had revenue of $3.88 billion for 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%. Goodyear Tire & Rubber’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the business posted $0.99 earnings per share. Sell-side analysts anticipate that Goodyear Tire & Rubber Co will post 2.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 27.59%.

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About Goodyear Tire & Rubber

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.

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

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