Goodyear Tire & Rubber Co (GT) Holdings Reduced by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 604,886 shares of the company’s stock after selling 25,114 shares during the quarter. Prudential Financial Inc. owned 0.25% of Goodyear Tire & Rubber worth $16,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GT. Advisory Services Network LLC lifted its position in shares of Goodyear Tire & Rubber by 164.5% during the 4th quarter. Advisory Services Network LLC now owns 3,832 shares of the company’s stock valued at $124,000 after acquiring an additional 2,383 shares during the period. Smith Moore & CO. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $203,000. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $223,000. D.A. Davidson & CO. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $233,000. Finally, NuWave Investment Management LLC lifted its position in shares of Goodyear Tire & Rubber by 21,696.4% during the 1st quarter. NuWave Investment Management LLC now owns 11,988 shares of the company’s stock valued at $319,000 after acquiring an additional 11,933 shares during the period. 88.31% of the stock is currently owned by institutional investors.

GT has been the subject of a number of research reports. BidaskClub downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. ValuEngine downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Jefferies Financial Group set a $38.00 price objective on Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Wednesday, April 4th. Citigroup cut their price objective on Goodyear Tire & Rubber from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, May 22nd. Finally, Argus restated a “buy” rating and set a $36.00 price objective on shares of Goodyear Tire & Rubber in a research report on Tuesday, May 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $35.45.

GT stock traded up $0.04 during midday trading on Thursday, hitting $25.10. The stock had a trading volume of 1,178,315 shares, compared to its average volume of 3,068,784. The stock has a market capitalization of $6.09 billion, a P/E ratio of 8.04 and a beta of 1.74. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.73 and a current ratio of 1.31. Goodyear Tire & Rubber Co has a 12-month low of $24.12 and a 12-month high of $36.52.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, April 25th. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.06. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Goodyear Tire & Rubber had a net margin of 1.64% and a return on equity of 14.36%. Goodyear Tire & Rubber’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. research analysts forecast that Goodyear Tire & Rubber Co will post 3.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 1st were paid a $0.14 dividend. The ex-dividend date was Monday, April 30th. This represents a $0.56 annualized dividend and a yield of 2.23%. Goodyear Tire & Rubber’s payout ratio is currently 17.95%.

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. It 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.

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

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