Advisory Services Network LLC Has $94,000 Stake in Goodyear Tire & Rubber Co (NASDAQ:GT)

Advisory Services Network LLC lifted its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 46.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,200 shares of the company’s stock after buying an additional 1,645 shares during the quarter. Advisory Services Network LLC’s holdings in Goodyear Tire & Rubber were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 46.9% in the 1st quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock worth $445,017,000 after purchasing an additional 7,827,837 shares during the period. Norges Bank bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $44,517,000. Millennium Management LLC raised its position in Goodyear Tire & Rubber by 2,196.7% during the 4th quarter. Millennium Management LLC now owns 2,190,955 shares of the company’s stock valued at $44,717,000 after purchasing an additional 2,095,559 shares in the last quarter. AJO LP raised its position in Goodyear Tire & Rubber by 295.0% during the 1st quarter. AJO LP now owns 2,187,264 shares of the company’s stock valued at $39,699,000 after purchasing an additional 1,633,511 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Goodyear Tire & Rubber by 30.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,158,198 shares of the company’s stock valued at $105,278,000 after purchasing an additional 1,218,993 shares in the last quarter. 84.91% of the stock is currently owned by hedge funds and other institutional investors.

GT has been the topic of several research analyst reports. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Morgan Stanley set a $12.00 price objective on Adient and gave the company a “sell” rating in a report on Wednesday, June 26th. Zacks Investment Research cut W. R. Grace & Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. KeyCorp reaffirmed a “buy” rating and issued a $235.00 price target on shares of Workday in a report on Wednesday, May 22nd. Finally, Longbow Research raised Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price target for the company in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus price target of $20.74.

Shares of GT stock traded down $0.14 during mid-day trading on Thursday, hitting $14.65. 2,150,100 shares of the stock were exchanged, compared to its average volume of 4,316,369. The company has a quick ratio of 0.70, a current ratio of 1.28 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 $25.41. The firm’s fifty day moving average price is $14.81. The company has a market capitalization of $3.50 billion, a PE ratio of 6.31 and a beta of 1.74.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the firm earned $0.50 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, analysts anticipate that Goodyear Tire & Rubber Co will post 1.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 4.37%. Goodyear Tire & Rubber’s dividend payout ratio is presently 27.59%.

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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