Korea Investment CORP trimmed its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 23.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,624 shares of the company’s stock after selling 60,700 shares during the period. Korea Investment CORP owned about 0.08% of Goodyear Tire & Rubber worth $4,034,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth about $35,000. Dupont Capital Management Corp increased its holdings in shares of Goodyear Tire & Rubber by 44.8% in the fourth quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock worth $88,000 after purchasing an additional 1,335 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Goodyear Tire & Rubber by 35.7% in the fourth quarter. IFP Advisors Inc now owns 5,315 shares of the company’s stock worth $108,000 after purchasing an additional 1,397 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth about $113,000. Finally, NumerixS Investment Technologies Inc increased its holdings in shares of Goodyear Tire & Rubber by 117.9% in the fourth quarter. NumerixS Investment Technologies Inc now owns 8,500 shares of the company’s stock worth $173,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
Shares of NASDAQ:GT opened at $17.67 on Friday. Goodyear Tire & Rubber Co has a 1 year low of $17.53 and a 1 year high of $28.60. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of -1.64 and a beta of 1.52. The company has a quick ratio of 0.64, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its 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). Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. Analysts anticipate that Goodyear Tire & Rubber Co will post 2.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 1st were issued a $0.16 dividend. This is a positive change from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.62%. Goodyear Tire & Rubber’s payout ratio is presently 27.59%.
Several equities research analysts have weighed in on GT shares. ValuEngine raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 15th. BidaskClub raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Zacks Investment Research cut Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. Jefferies Financial Group set a $26.00 price objective on Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Tuesday, December 4th. Finally, Deutsche Bank started coverage on Goodyear Tire & Rubber in a research note on Thursday, December 13th. They set a “hold” rating on the stock. Five research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.56.
In other news, Director Werner Geissler purchased 35,000 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was purchased at an average price of $18.65 per share, for a total transaction of $652,750.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $932,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.
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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. The company 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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