Nisa Investment Advisors LLC decreased its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 13.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,800 shares of the company’s stock after selling 5,641 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Valeo Financial Advisors LLC acquired a new stake in shares of Goodyear Tire & Rubber during the first quarter worth about $27,000. NuWave Investment Management LLC increased its position in shares of Goodyear Tire & Rubber by 3,169.2% during the first quarter. NuWave Investment Management LLC now owns 1,700 shares of the company’s stock worth $31,000 after purchasing an additional 1,648 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $35,000. Captrust Financial Advisors acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $43,000. Finally, CSat Investment Advisory L.P. increased its position in shares of Goodyear Tire & Rubber by 58.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock worth $50,000 after purchasing an additional 914 shares in the last quarter. 85.51% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on GT. BidaskClub raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Longbow Research reissued a “sell” rating and set a $14.00 price target on shares of Goodyear Tire & Rubber in a report on Wednesday, April 24th. Zacks Investment Research raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley set a $15.00 price target on Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Thursday, May 16th. Finally, KeyCorp assumed coverage on Goodyear Tire & Rubber in a research report on Wednesday. They set a “sector weight” rating for the company. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus target price of $21.50.
Goodyear Tire & Rubber stock traded down $0.46 during trading on Wednesday, reaching $14.93. 5,099,038 shares of the company’s stock were exchanged, compared to its average volume of 4,608,555. The company has a current ratio of 1.28, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10. Goodyear Tire & Rubber Co has a 52-week low of $14.87 and a 52-week high of $25.82. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 6.44, a price-to-earnings-growth ratio of -1.56 and a beta of 1.51.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. Analysts forecast that Goodyear Tire & Rubber Co will post 2.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be given a $0.16 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.29%. Goodyear Tire & Rubber’s payout ratio is currently 27.59%.
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Goodyear Tire & Rubber Company Profile
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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