FMR LLC boosted its position in Goodyear Tire & Rubber Co (NASDAQ:GT) by 728.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,128,218 shares of the company’s stock after buying an additional 992,025 shares during the period. FMR LLC owned 0.43% of Goodyear Tire & Rubber Co worth $34,828,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. BlackRock Advisors LLC raised its stake in shares of Goodyear Tire & Rubber Co by 1.0% in the third quarter. BlackRock Advisors LLC now owns 2,395,970 shares of the company’s stock worth $77,390,000 after buying an additional 23,742 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of 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 worth $61,993,000 after buying an additional 124,499 shares during the last quarter. Quadrature Capital Ltd raised its stake in shares of Goodyear Tire & Rubber Co by 461.7% in the third quarter. Quadrature Capital Ltd now owns 126,390 shares of the company’s stock worth $4,082,000 after buying an additional 103,890 shares during the last quarter. Korea Investment CORP raised its stake in shares of Goodyear Tire & Rubber Co by 24.7% in the third quarter. Korea Investment CORP now owns 256,962 shares of the company’s stock worth $8,300,000 after buying an additional 50,962 shares during the last quarter. Finally, Scopus Asset Management L.P. bought a new stake in shares of Goodyear Tire & Rubber Co during the third quarter worth $3,230,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) traded down 1.09% during trading on Friday, hitting $35.35. 2,651,861 shares of the company were exchanged. The firm has a market capitalization of $8.90 billion, a PE ratio of 7.46 and a beta of 1.42. The firm’s 50-day moving average price is $35.59 and its 200 day moving average price is $32.70. Goodyear Tire & Rubber Co has a 12 month low of $24.31 and a 12 month high of $37.20.
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 issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.40 annualized dividend and a yield of 1.13%. Goodyear Tire & Rubber Co’s dividend payout ratio is presently 8.40%.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Goodyear Tire & Rubber Co from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, April 17th. Citigroup Inc boosted their price objective on shares of Goodyear Tire & Rubber Co from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, April 7th. Jefferies Group LLC reissued a “hold” rating and set a $38.00 price objective on shares of Goodyear Tire & Rubber Co in a research note on Tuesday, April 4th. Goldman Sachs Group Inc cut shares of Goodyear Tire & Rubber Co from a “buy” rating to a “neutral” rating and decreased their target price 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. Finally, Standpoint Research cut shares of Goodyear Tire & Rubber Co from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $34.94.
In other news, insider Stephen R. Mcclellan sold 6,250 shares of Goodyear Tire & Rubber Co stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $35.25, for a total value of $220,312.50. Following the completion of the transaction, the insider now owns 90,599 shares in the company, valued at approximately $3,193,614.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard J. Noechel sold 4,721 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $36.89, for a total value of $174,157.69. Following the transaction, the senior vice president now owns 63,852 shares of the company’s stock, valued at approximately $2,355,500.28. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
About Goodyear Tire & Rubber Co
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.
