Hengehold Capital Management LLC Cuts Stake in Goodyear Tire & Rubber Co (GT)

Hengehold Capital Management LLC cut its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 27.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,666 shares of the company’s stock after selling 2,126 shares during the period. Hengehold Capital Management LLC’s holdings in Goodyear Tire & Rubber Co were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GT. State Street Corp raised its position in shares of Goodyear Tire & Rubber Co by 2.4% in the fourth quarter. State Street Corp now owns 12,419,631 shares of the company’s stock valued at $383,401,000 after buying an additional 294,763 shares in the last quarter. LSV Asset Management raised its position in shares of Goodyear Tire & Rubber Co by 5.0% in the third quarter. LSV Asset Management now owns 9,267,168 shares of the company’s stock valued at $299,329,000 after buying an additional 440,800 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Goodyear Tire & Rubber Co by 5.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,143,650 shares of the company’s stock valued at $198,440,000 after buying an additional 315,818 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Goodyear Tire & Rubber Co by 3.7% in the third quarter. BlackRock Fund Advisors now owns 4,347,017 shares of the company’s stock valued at $140,409,000 after buying an additional 156,487 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Goodyear Tire & Rubber Co during the fourth quarter valued at approximately $122,228,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

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

Goodyear Tire & Rubber Co (NASDAQ:GT) traded up 2.61% during midday trading on Thursday, reaching $35.74. The company had a trading volume of 2,816,205 shares. Goodyear Tire & Rubber Co has a 1-year low of $24.31 and a 1-year high of $37.20. The company has a market capitalization of $8.99 billion, a P/E ratio of 7.54 and a beta of 1.42. The firm has a 50-day moving average of $35.62 and a 200 day moving average of $32.65.

Goodyear Tire & Rubber Co (NASDAQ:GT) last posted its earnings results on Wednesday, February 8th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.87 billion. Goodyear Tire & Rubber Co had a return on equity of 23.51% and a net margin of 8.34%. Goodyear Tire & Rubber Co’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. On average, equities research analysts forecast that Goodyear Tire & Rubber Co will post $3.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, April 27th. Goodyear Tire & Rubber Co’s dividend payout ratio (DPR) is 8.40%.

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Several brokerages have commented on GT. Goldman Sachs Group Inc lowered Goodyear Tire & Rubber Co from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $33.00 in a research report on Thursday, March 30th. They noted that the move was a valuation call. Zacks Investment Research lowered Goodyear Tire & Rubber Co from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th. Citigroup Inc raised their price objective on Goodyear Tire & Rubber Co from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price target on shares of Goodyear Tire & Rubber Co in a research report on Tuesday, April 4th. Finally, Standpoint Research lowered Goodyear Tire & Rubber Co from a “buy” rating to a “hold” rating in a research report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $34.94.

In related news, SVP Richard J. Noechel sold 4,721 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $36.89, for a total transaction of $174,157.69. Following the sale, the senior vice president now directly owns 63,852 shares of the company’s stock, valued at $2,355,500.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen R. Mcclellan sold 6,250 shares of the firm’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $35.25, for a total value of $220,312.50. Following the sale, the insider now directly owns 90,599 shares in the company, valued at $3,193,614.75. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Goodyear Tire & Rubber Co 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.

5 Day Chart for NASDAQ:GT

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