CIBC World Markets Inc. Has $4.923 Million Position in Goodyear Tire & Rubber Co (GT)

CIBC World Markets Inc. decreased its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 14.9% during the first quarter, Holdings Channel reports. The institutional investor owned 136,741 shares of the company’s stock after selling 23,956 shares during the period. CIBC World Markets Inc.’s holdings in Goodyear Tire & Rubber Co were worth $4,923,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Public Employees Retirement Association of Colorado boosted its stake in Goodyear Tire & Rubber Co by 6.9% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,919,273 shares of the company’s stock valued at $61,993,000 after buying an additional 124,499 shares during the period. Scopus Asset Management L.P. purchased a new stake in Goodyear Tire & Rubber Co during the third quarter valued at $3,230,000. FMR LLC boosted its stake in Goodyear Tire & Rubber Co by 728.4% in the fourth quarter. FMR LLC now owns 1,128,218 shares of the company’s stock valued at $34,828,000 after buying an additional 992,025 shares during the period. Scotia Capital Inc. purchased a new stake in Goodyear Tire & Rubber Co during the fourth quarter valued at $1,249,000. Finally, State of Wisconsin Investment Board boosted its stake in Goodyear Tire & Rubber Co by 8.8% in the third quarter. State of Wisconsin Investment Board now owns 680,350 shares of the company’s stock valued at $21,975,000 after buying an additional 55,000 shares during the period. 91.58% of the stock is owned by institutional investors.

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

Goodyear Tire & Rubber Co (NASDAQ:GT) traded down 1.03% during midday trading on Friday, reaching $31.73. 2,632,577 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $35.03 and its 200 day moving average is $33.15. Goodyear Tire & Rubber Co has a 52 week low of $24.31 and a 52 week high of $37.20. The firm has a market capitalization of $7.99 billion, a P/E ratio of 6.69 and a beta of 1.42.

Goodyear Tire & Rubber Co (NASDAQ:GT) last released its quarterly earnings data on Friday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. Goodyear Tire & Rubber Co had a net margin of 8.34% and a return on equity of 23.51%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. Goodyear Tire & Rubber Co’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts expect that Goodyear Tire & Rubber Co will post $4.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 27th. This represents a $0.40 annualized dividend and a yield of 1.25%. Goodyear Tire & Rubber Co’s dividend payout ratio is currently 8.40%.

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Several analysts have recently weighed in on GT shares. Zacks Investment Research raised shares of Goodyear Tire & Rubber Co from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Monday, April 17th. Citigroup Inc increased their price target on shares of Goodyear Tire & Rubber Co from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, April 7th. Jefferies Group LLC set a $40.00 price objective on shares of Goodyear Tire & Rubber Co and gave the stock a “hold” rating in a report on Monday, May 8th. Standpoint Research lowered shares of Goodyear Tire & Rubber Co from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. Finally, Goldman Sachs Group Inc lowered shares of Goodyear Tire & Rubber Co from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $33.00 in a report on Thursday, March 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $35.14.

In other news, SVP Richard J. Noechel sold 4,721 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $36.89, for a total transaction of $174,157.69. Following the transaction, the senior vice president now directly owns 63,852 shares of the company’s stock, valued at $2,355,500.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen R. Mcclellan sold 6,250 shares of the business’s stock in a transaction on Monday, April 10th. The stock was sold at an average price of $35.25, for a total transaction of $220,312.50. Following the transaction, the insider now directly owns 90,599 shares in the company, valued at $3,193,614.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,221 shares of company stock valued at $615,220. 1.20% of the stock is owned by insiders.

Goodyear Tire & Rubber Co Company 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.

5 Day Chart for NASDAQ:GT

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