Goodyear Tire & Rubber Co (GT) Holdings Decreased by Massachusetts Financial Services Co. MA

Share on StockTwits

Massachusetts Financial Services Co. MA decreased its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 26.3% during the 3rd quarter, Holdings Channel reports. The firm owned 43,120 shares of the company’s stock after selling 15,418 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Goodyear Tire & Rubber were worth $1,009,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. DnB Asset Management AS increased its holdings in shares of Goodyear Tire & Rubber by 14.3% during the 2nd quarter. DnB Asset Management AS now owns 22,400 shares of the company’s stock worth $522,000 after acquiring an additional 2,800 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Goodyear Tire & Rubber by 33.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 13,696 shares of the company’s stock worth $319,000 after acquiring an additional 3,416 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Goodyear Tire & Rubber by 50.1% during the 2nd quarter. Bank of Montreal Can now owns 182,968 shares of the company’s stock worth $4,261,000 after acquiring an additional 61,048 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Goodyear Tire & Rubber by 7.6% during the 2nd quarter. Retirement Systems of Alabama now owns 335,065 shares of the company’s stock worth $7,804,000 after acquiring an additional 23,717 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $238,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the company. Citigroup decreased their target price on Goodyear Tire & Rubber from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, July 30th. Morgan Stanley lowered Goodyear Tire & Rubber from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $33.00 to $23.00 in a report on Monday, August 13th. Jefferies Financial Group set a $30.00 target price on Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Tuesday, July 31st. Longbow Research reissued a “hold” rating on shares of Goodyear Tire & Rubber in a report on Monday, August 13th. Finally, Argus decreased their target price on Goodyear Tire & Rubber to $30.00 and set an “average” rating on the stock in a report on Monday, August 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $27.88.

GT opened at $21.99 on Friday. The firm has a market capitalization of $5.17 billion, a P/E ratio of 7.05 and a beta of 1.73. Goodyear Tire & Rubber Co has a 1 year low of $19.25 and a 1 year high of $36.07. 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 released its quarterly earnings results on Friday, October 26th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.08). The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.95 billion. Goodyear Tire & Rubber had a net margin of 3.11% and a return on equity of 13.84%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. On average, research analysts expect that Goodyear Tire & Rubber Co will post 2.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.56 annualized dividend and a yield of 2.55%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 20.51%.

COPYRIGHT VIOLATION NOTICE: “Goodyear Tire & Rubber Co (GT) Holdings Decreased by Massachusetts Financial Services Co. MA” was first posted by Macon Daily and is owned by of Macon Daily. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://macondaily.com/2018/11/10/goodyear-tire-rubber-co-gt-holdings-decreased-by-massachusetts-financial-services-co-ma.html.

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. 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.

Read More: How Important is Technical Analysis of Stocks

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)

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply