IFP Advisors Inc Sells 5,783 Shares of Goodyear Tire & Rubber Co (GT)

IFP Advisors Inc reduced its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 57.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,358 shares of the company’s stock after selling 5,783 shares during the period. IFP Advisors Inc’s holdings in Goodyear Tire & Rubber were worth $141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Shore Management Inc. CT grew its stake in shares of Goodyear Tire & Rubber by 38.7% during the third quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock valued at $133,796,000 after acquiring an additional 1,123,573 shares in the last quarter. Hexavest Inc. grew its stake in shares of Goodyear Tire & Rubber by 65.9% during the fourth quarter. Hexavest Inc. now owns 1,631,370 shares of the company’s stock valued at $52,710,000 after acquiring an additional 648,313 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at about $15,827,000. Dimensional Fund Advisors LP grew its stake in shares of Goodyear Tire & Rubber by 10.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after acquiring an additional 414,651 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Goodyear Tire & Rubber by 6.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,939,944 shares of the company’s stock valued at $230,753,000 after acquiring an additional 411,401 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

GT has been the subject of a number of research reports. Guggenheim downgraded Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a research note on Wednesday, November 1st. ValuEngine upgraded Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. decreased their price target on Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. BidaskClub downgraded Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.30.

Goodyear Tire & Rubber Co (NASDAQ GT) opened at $29.99 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.21 and a debt-to-equity ratio of 1.05. Goodyear Tire & Rubber Co has a twelve month low of $28.81 and a twelve month high of $37.20. The stock has a market cap of $7,390.19, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.67 and a beta of 1.60.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 8th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.23. Goodyear Tire & Rubber had a net margin of 2.25% and a return on equity of 15.70%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the company posted $0.95 earnings per share. Goodyear Tire & Rubber’s revenue was up 8.8% on a year-over-year basis. equities analysts expect that Goodyear Tire & Rubber Co will post 3.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.87%. Goodyear Tire & Rubber’s dividend payout ratio is currently 41.79%.

In other Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $32.12, for a total value of $240,900.00. Following the transaction, the senior vice president now owns 51,848 shares of the company’s stock, valued at $1,665,357.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

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Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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

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