Barings LLC Trims Position in The Goodyear Tire & Rubber Company (GT)

Barings LLC cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 62.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,112 shares of the company’s stock after selling 41,300 shares during the period. Barings LLC’s holdings in The Goodyear Tire & Rubber were worth $835,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. WINTON GROUP Ltd lifted its position in The Goodyear Tire & Rubber by 95.4% in the third quarter. WINTON GROUP Ltd now owns 16,211 shares of the company’s stock valued at $539,000 after acquiring an additional 7,916 shares during the last quarter. Evanston Investments Inc. dba Evanston Advisors increased its stake in The Goodyear Tire & Rubber by 4.4% in the third quarter. Evanston Investments Inc. dba Evanston Advisors now owns 237,598 shares of the company’s stock valued at $7,900,000 after purchasing an additional 10,010 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in The Goodyear Tire & Rubber by 14.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,413 shares of the company’s stock valued at $778,000 after purchasing an additional 2,954 shares during the period. Legal & General Group Plc increased its stake in The Goodyear Tire & Rubber by 6.5% in the third quarter. Legal & General Group Plc now owns 1,436,702 shares of the company’s stock valued at $47,767,000 after purchasing an additional 87,680 shares during the period. Finally, BBT Capital Management LLC acquired a new position in The Goodyear Tire & Rubber in the third quarter valued at $6,650,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at $32.07 on Tuesday. The Goodyear Tire & Rubber Company has a one year low of $28.81 and a one year high of $37.20. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The stock has a market cap of $7,912.03, a PE ratio of 10.36, a PEG ratio of 0.90 and a beta of 1.52.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business posted $1.17 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. research analysts predict that The Goodyear Tire & Rubber Company will post 2.88 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, October 31st. The Goodyear Tire & Rubber’s payout ratio is 14.47%.

In other news, insider Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.44, for a total transaction of $243,300.00. Following the transaction, the insider now directly owns 74,348 shares in the company, valued at $2,411,849.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 22,500 shares of company stock worth $721,725. Company insiders own 1.40% of the company’s stock.

A number of research analysts have commented on GT shares. Jefferies Group set a $36.00 price objective on shares of The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Monday, August 7th. Morgan Stanley restated a “buy” rating and issued a $46.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Monday, September 11th. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 price objective on the stock in a research note on Monday, October 9th. Finally, KeyCorp restated a “buy” rating and issued a $37.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $37.70.

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The Goodyear Tire & Rubber 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.

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

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