Goodyear Tire & Rubber Co (NASDAQ:GT) Stake Lowered by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY lessened its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,846 shares of the company’s stock after selling 716 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Goodyear Tire & Rubber were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. MML Investors Services LLC acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth $209,000. Squarepoint Ops LLC raised its position in Goodyear Tire & Rubber by 21.6% in the fourth quarter. Squarepoint Ops LLC now owns 219,097 shares of the company’s stock valued at $4,472,000 after purchasing an additional 38,945 shares during the period. Two Sigma Advisers LP raised its position in Goodyear Tire & Rubber by 345.1% in the fourth quarter. Two Sigma Advisers LP now owns 895,771 shares of the company’s stock valued at $18,283,000 after purchasing an additional 694,500 shares during the period. Stone Ridge Asset Management LLC purchased a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $717,000. Finally, Mackay Shields LLC raised its position in Goodyear Tire & Rubber by 103.4% in the fourth quarter. Mackay Shields LLC now owns 76,876 shares of the company’s stock valued at $1,569,000 after purchasing an additional 39,074 shares during the period. 88.38% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Werner Geissler bought 35,000 shares of the stock in a transaction on Wednesday, February 13th. The shares were bought at an average cost of $18.65 per share, for a total transaction of $652,750.00. Following the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $932,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

A number of equities research analysts have commented on GT shares. Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Goodyear Tire & Rubber in a research report on Tuesday, February 5th. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, January 15th. Longbow Research reissued a “hold” rating on shares of Goodyear Tire & Rubber in a research note on Monday, January 21st. Argus cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Finally, Morgan Stanley set a $19.00 target price on Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Tuesday, January 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.56.

Shares of NASDAQ GT traded down $0.01 during trading hours on Wednesday, reaching $20.08. The stock had a trading volume of 2,827,661 shares, compared to its average volume of 4,886,680. The stock has a market cap of $4.72 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of -1.98 and a beta of 1.50. The company has a quick ratio of 0.64, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Goodyear Tire & Rubber Co has a fifty-two week low of $17.30 and a fifty-two week high of $26.53.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, February 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.09). The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.04 billion. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.99 earnings per share. Sell-side analysts anticipate that Goodyear Tire & Rubber Co will post 2.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be given a $0.16 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.19%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 27.59%.

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Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company 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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