Worldquant Millennium Advisors LLC raised its position in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 18.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 843,285 shares of the company’s stock after acquiring an additional 129,948 shares during the quarter. Worldquant Millennium Advisors LLC owned approximately 0.36% of Goodyear Tire & Rubber worth $12,902,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GT. BlackRock Inc. boosted its position in Goodyear Tire & Rubber by 46.9% during the 1st quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock valued at $445,017,000 after acquiring an additional 7,827,837 shares in the last quarter. AJO LP boosted 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 acquiring an additional 1,633,511 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at approximately $20,306,000. Marshall Wace LLP purchased a new position in shares of Goodyear Tire & Rubber during the second quarter valued at approximately $7,010,000. Finally, Natixis lifted its holdings in shares of Goodyear Tire & Rubber by 304.1% during the second quarter. Natixis now owns 503,014 shares of the company’s stock valued at $7,696,000 after purchasing an additional 378,536 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on GT. Longbow Research upgraded shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 target price for the company in a report on Thursday, June 6th. BNP Paribas began coverage on shares of Goodyear Tire & Rubber in a report on Friday, August 16th. They set an “outperform” rating and a $10.00 target price for the company. ValuEngine upgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Morgan Stanley set a $14.00 target price on shares of Goodyear Tire & Rubber and gave the company a “hold” rating in a report on Wednesday, June 26th. Finally, Citigroup lowered their target price on shares of Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Goodyear Tire & Rubber currently has an average rating of “Hold” and an average target price of $17.52.
Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Goodyear Tire & Rubber had a net margin of 3.02% and a return on equity of 7.66%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm earned $0.62 EPS. The company’s revenue was down 5.4% on a year-over-year basis. As a group, equities analysts expect that Goodyear Tire & Rubber Co will post 1.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Wednesday, July 31st. Goodyear Tire & Rubber’s dividend payout ratio is currently 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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