Goodyear Tire & Rubber Co (NASDAQ:GT) Stake Lessened by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its holdings in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 351,475 shares of the company’s stock after selling 1,422 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.15% of Goodyear Tire & Rubber worth $6,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Counselors Inc. lifted its stake in Goodyear Tire & Rubber by 0.4% in the fourth 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 during the last quarter. TD Asset Management Inc. lifted its stake in Goodyear Tire & Rubber by 0.9% in the fourth quarter. TD Asset Management Inc. now owns 69,256 shares of the company’s stock valued at $1,414,000 after acquiring an additional 638 shares during the last quarter. Comerica Bank lifted its stake in Goodyear Tire & Rubber by 1.3% in the fourth quarter. Comerica Bank now owns 51,019 shares of the company’s stock valued at $1,065,000 after acquiring an additional 676 shares during the last quarter. Fruth Investment Management lifted its stake in Goodyear Tire & Rubber by 1.1% in the first quarter. Fruth Investment Management now owns 67,090 shares of the company’s stock valued at $1,217,000 after acquiring an additional 750 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its stake in shares of Goodyear Tire & Rubber by 58.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock worth $50,000 after buying an additional 914 shares during the last quarter. Institutional investors and hedge funds own 85.29% of the company’s stock.

Shares of Goodyear Tire & Rubber stock traded down $0.08 during midday trading on Friday, hitting $14.83. 2,177,165 shares of the company traded hands, compared to its average volume of 4,673,716. The firm has a market capitalization of $3.45 billion, a PE ratio of 6.39 and a beta of 1.71. 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 12 month low of $13.23 and a 12 month high of $25.46.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.14. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $0.50 EPS. As a group, research analysts anticipate that Goodyear Tire & Rubber Co will post 1.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Tuesday, April 30th. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 27.59%.

A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. ValuEngine lowered shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 9th. Finally, Longbow Research raised shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price target on the stock in a research report on Thursday, June 6th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.85.

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

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