Systematic Financial Management LP reduced its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 77.2% during the fourth quarter, Holdings Channel reports. The fund owned 419,729 shares of the company’s stock after selling 1,420,545 shares during the period. Systematic Financial Management LP’s holdings in The Goodyear Tire & Rubber Company were worth $12,957,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. TradeLink Capital LLC boosted its stake in The Goodyear Tire & Rubber Company by 4.6% in the second quarter. TradeLink Capital LLC now owns 7,833 shares of the company’s stock valued at $201,000 after buying an additional 343 shares during the period. Coastline Trust Co purchased a new stake in The Goodyear Tire & Rubber Company during the third quarter valued at approximately $211,000. MSI Financial Services Inc boosted its stake in The Goodyear Tire & Rubber Company by 155.5% in the third quarter. MSI Financial Services Inc now owns 6,775 shares of the company’s stock valued at $219,000 after buying an additional 4,123 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in The Goodyear Tire & Rubber Company during the third quarter valued at approximately $219,000. Finally, Suntrust Banks Inc. purchased a new stake in The Goodyear Tire & Rubber Company during the third quarter valued at approximately $222,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) traded down 0.28% during midday trading on Friday, hitting $36.06. The company had a trading volume of 1,377,940 shares. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 7.61 and a beta of 1.42. The Goodyear Tire & Rubber Company has a one year low of $24.31 and a one year high of $36.42. The stock’s 50-day moving average price is $32.08 and its 200-day moving average price is $30.95.

The Goodyear Tire & Rubber Company (NASDAQ:GT) last released its earnings results on Wednesday, February 8th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08. The Goodyear Tire & Rubber Company had a return on equity of 23.51% and a net margin of 8.34%. The firm earned $3.70 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The company’s quarterly revenue was down 7.9% on a year-over-year basis. Analysts predict that The Goodyear Tire & Rubber Company will post $4.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date is Monday, January 30th. The Goodyear Tire & Rubber Company’s payout ratio is presently 8.40%.

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GT has been the subject of several research reports. Zacks Investment Research cut The Goodyear Tire & Rubber Company from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Morgan Stanley reissued an “underperform” rating on shares of The Goodyear Tire & Rubber Company in a research note on Tuesday, November 22nd. Jefferies Group LLC initiated coverage on The Goodyear Tire & Rubber Company in a research note on Tuesday, November 29th. They issued a “buy” rating and a $36.50 target price for the company. Finally, Berenberg Bank initiated coverage on The Goodyear Tire & Rubber Company in a research note on Tuesday, November 22nd. They issued a “buy” rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The Goodyear Tire & Rubber Company presently has a consensus rating of “Buy” and a consensus target price of $34.63.

About The Goodyear Tire & Rubber Company

The Goodyear Tire & Rubber Company is engaged in developing, manufacturing, marketing and distributing tires for various applications. It also manufactures and markets rubber-related chemicals for various applications. The Company’s Americas business comprises businesses of North America and Latin America.

5 Day Chart for NASDAQ:GT

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