Cim Investment Mangement Inc. Trims Holdings in Goodyear Tire & Rubber Co (GT)

Cim Investment Mangement Inc. lowered its position in Goodyear Tire & Rubber Co (NASDAQ:GT) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 24,412 shares of the company’s stock after selling 1,042 shares during the period. Cim Investment Mangement Inc.’s holdings in Goodyear Tire & Rubber were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. First Mercantile Trust Co. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $35,000. Dupont Capital Management Corp lifted its position in shares of Goodyear Tire & Rubber by 44.8% during the 4th quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock worth $88,000 after buying an additional 1,335 shares during the period. IFP Advisors Inc lifted its position in shares of Goodyear Tire & Rubber by 35.7% during the 4th quarter. IFP Advisors Inc now owns 5,315 shares of the company’s stock worth $108,000 after buying an additional 1,397 shares during the period. Quantamental Technologies LLC bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $113,000. Finally, Columbia Asset Management bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $195,000. Institutional investors own 89.49% of the company’s stock.

NASDAQ GT opened at $18.69 on Monday. The firm has a market capitalization of $4.35 billion, a PE ratio of 8.06, a PEG ratio of -1.48 and a beta of 1.60. Goodyear Tire & Rubber Co has a 52 week low of $18.49 and a 52 week high of $31.79. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, February 8th. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.09). The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $4.04 billion. Goodyear Tire & Rubber had a return on equity of 11.24% and a net margin of 4.48%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, equities research analysts expect that Goodyear Tire & Rubber Co will post 2.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, January 31st. This is a positive change from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 3.42%. Goodyear Tire & Rubber’s payout ratio is currently 27.59%.

A number of research firms recently weighed in on GT. Zacks Investment Research raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. BidaskClub raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. ValuEngine cut Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Goodyear Tire & Rubber in a report on Tuesday, February 5th. Finally, Longbow Research reaffirmed a “hold” rating on shares of Goodyear Tire & Rubber in a report on Monday, January 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.75.

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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. 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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Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goodyear Tire & Rubber Co (NASDAQ:GT).

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

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