Prudential Financial Inc. cut its position in shares of Goodyear Tire and Rubber (NASDAQ:GT) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 604,886 shares of the company’s stock after selling 25,114 shares during the quarter. Prudential Financial Inc. owned about 0.25% of Goodyear Tire and Rubber worth $16,078,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GT. Bank of Montreal Can increased its stake in Goodyear Tire and Rubber by 19.7% during the fourth quarter. Bank of Montreal Can now owns 113,129 shares of the company’s stock worth $3,654,000 after acquiring an additional 18,627 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Goodyear Tire and Rubber by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,334,315 shares of the company’s stock valued at $43,112,000 after buying an additional 54,972 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Goodyear Tire and Rubber by 29.1% in the fourth quarter. State of Alaska Department of Revenue now owns 46,398 shares of the company’s stock valued at $1,497,000 after buying an additional 10,470 shares in the last quarter. Smith Graham & Co. Investment Advisors LP grew its stake in shares of Goodyear Tire and Rubber by 21.8% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 174,780 shares of the company’s stock valued at $5,647,000 after buying an additional 31,280 shares in the last quarter. Finally, Pillar Pacific Capital Management LLC grew its stake in shares of Goodyear Tire and Rubber by 2.9% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 116,365 shares of the company’s stock valued at $3,760,000 after buying an additional 3,230 shares in the last quarter. Institutional investors own 89.03% of the company’s stock.

A number of research firms have recently issued reports on GT. Zacks Investment Research upgraded Goodyear Tire and Rubber from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, January 29th. BidaskClub upgraded Goodyear Tire and Rubber from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Longbow Research began coverage on Goodyear Tire and Rubber in a research note on Wednesday, January 31st. They issued a “neutral” rating for the company. TheStreet lowered Goodyear Tire and Rubber from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Finally, Guggenheim set a $32.00 target price on Goodyear Tire and Rubber and gave the company a “hold” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $35.45.

Shares of Goodyear Tire and Rubber opened at $25.72 on Wednesday, according to MarketBeat. The stock has a market capitalization of $6.25 billion, a P/E ratio of 8.24 and a beta of 1.81. Goodyear Tire and Rubber has a one year low of $24.64 and a one year high of $36.52. The company has a quick ratio of 0.73, a current ratio of 1.31 and a debt-to-equity ratio of 1.13.

Goodyear Tire and Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, April 25th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.80 billion. Goodyear Tire and Rubber had a return on equity of 14.36% and a net margin of 1.64%. Goodyear Tire and Rubber’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. research analysts anticipate that Goodyear Tire and Rubber will post 3.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 1st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, April 30th. Goodyear Tire and Rubber’s dividend payout ratio is currently 17.95%.

Goodyear Tire and Rubber Company Profile

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.

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

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