Sciencast Management LP acquired a new stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) in the 1st quarter, HoldingsChannel reports. The fund acquired 50,553 shares of the company’s stock, valued at approximately $1,406,000. Goodyear Tire & Rubber comprises about 0.7% of Sciencast Management LP’s holdings, making the stock its 26th biggest holding.

Other large investors have also recently modified their holdings of the company. Advisory Services Network LLC raised its stake in shares of Goodyear Tire & Rubber by 164.5% during the fourth quarter. Advisory Services Network LLC now owns 3,832 shares of the company’s stock valued at $124,000 after acquiring an additional 2,383 shares during the last quarter. Smith Moore & CO. bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $203,000. Point72 Asia Hong Kong Ltd raised its stake in shares of Goodyear Tire & Rubber by 1,888.9% during the first quarter. Point72 Asia Hong Kong Ltd now owns 6,603 shares of the company’s stock valued at $176,000 after acquiring an additional 6,271 shares during the last quarter. Ostrum Asset Management bought a new position in shares of Goodyear Tire & Rubber during the first quarter valued at about $179,000. Finally, Vantage Financial Partners Ltd. Inc. bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $223,000. 88.31% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Goodyear Tire & Rubber from $43.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, March 22nd. BidaskClub downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Jefferies Financial Group set a $38.00 price target on shares of Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Wednesday, April 4th. ValuEngine downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Goodyear Tire & Rubber from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, April 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $35.45.

Goodyear Tire & Rubber opened at $25.06 on Thursday, Marketbeat reports. Goodyear Tire & Rubber Co has a 1 year low of $24.12 and a 1 year high of $36.52. The stock has a market capitalization of $6.09 billion, a P/E ratio of 8.03 and a beta of 1.74. The company has a quick ratio of 0.73, a current ratio of 1.31 and a debt-to-equity ratio of 1.13.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, April 25th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Goodyear Tire & Rubber had a net margin of 1.64% and a return on equity of 14.36%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. equities analysts anticipate that Goodyear Tire & Rubber Co will post 3.52 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Monday, April 30th. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 17.95%.

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.

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

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