First Allied Advisory Services Inc. raised its position in Goodyear Tire & Rubber Co (NASDAQ:GT) by 7.9% in the 1st quarter, Holdings Channel reports. The firm owned 27,274 shares of the company’s stock after buying an additional 2,005 shares during the period. First Allied Advisory Services Inc.’s holdings in Goodyear Tire & Rubber were worth $502,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GT. Investors Research Corp bought a new position in Goodyear Tire & Rubber in the first quarter valued at about $25,000. Valeo Financial Advisors LLC bought a new position in Goodyear Tire & Rubber in the first quarter valued at about $27,000. NuWave Investment Management LLC raised its position in Goodyear Tire & Rubber by 3,169.2% in the first quarter. NuWave Investment Management LLC now owns 1,700 shares of the company’s stock valued at $31,000 after purchasing an additional 1,648 shares during the last quarter. First Mercantile Trust Co. bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $35,000. Finally, Captrust Financial Advisors bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 85.51% of the company’s stock.
GT has been the subject of a number of analyst reports. Morgan Stanley set a $19.00 price objective on Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Zacks Investment Research downgraded Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 5th. Jefferies Financial Group restated a “buy” rating and set a $25.00 price objective on shares of Goodyear Tire & Rubber in a research report on Tuesday, February 5th. ValuEngine downgraded Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Friday, February 8th. Finally, Longbow Research downgraded Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating and set a $14.00 price objective for the company. in a research report on Monday, February 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.50.
Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, April 26th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.74 billion. Goodyear Tire & Rubber had a return on equity of 9.59% and a net margin of 3.65%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, research analysts anticipate that Goodyear Tire & Rubber Co will post 2.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.16%. Goodyear Tire & Rubber’s payout ratio is currently 27.59%.
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Goodyear Tire & Rubber Company 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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