Goodyear Tire & Rubber Co (GT) Shares Bought by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan boosted its position in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 13.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,780 shares of the company’s stock after acquiring an additional 2,220 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Goodyear Tire & Rubber were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GT. Levin Capital Strategies L.P. purchased a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $40,383,000. Hexavest Inc. boosted its holdings in Goodyear Tire & Rubber by 65.9% during the 4th quarter. Hexavest Inc. now owns 1,631,370 shares of the company’s stock valued at $52,710,000 after acquiring an additional 648,313 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Goodyear Tire & Rubber by 10.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after acquiring an additional 414,651 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in Goodyear Tire & Rubber by 13.0% during the 4th quarter. Brandywine Global Investment Management LLC now owns 3,367,864 shares of the company’s stock valued at $108,816,000 after acquiring an additional 386,639 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in Goodyear Tire & Rubber by 19.5% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,901,482 shares of the company’s stock valued at $61,437,000 after acquiring an additional 310,302 shares during the period. Institutional investors own 95.05% of the company’s stock.

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Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) opened at $26.61 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 1.21. Goodyear Tire & Rubber Co has a 12-month low of $26.58 and a 12-month high of $36.78. The firm has a market capitalization of $6,399.14, a PE ratio of 8.47, a PEG ratio of 0.60 and a beta of 1.72.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 8th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.23. Goodyear Tire & Rubber had a return on equity of 15.70% and a net margin of 2.25%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the company earned $0.95 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. research analysts forecast that Goodyear Tire & Rubber Co will post 3.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Wednesday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 41.79%.

Several brokerages have recently issued reports on GT. Morgan Stanley decreased their price objective on Goodyear Tire & Rubber from $43.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday. BidaskClub cut Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. TheStreet cut Goodyear Tire & Rubber from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. Guggenheim set a $32.00 price objective on Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, Longbow Research began coverage on Goodyear Tire & Rubber in a research note on Wednesday, January 31st. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $36.10.

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About Goodyear Tire & Rubber

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.

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

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