The Goodyear Tire & Rubber Company $GT Holdings Lowered by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Goodyear Tire & Rubber by 0.9%, owning approximately 5.14% of the company, valued at $135.5 million after the sale of 130,071 shares.
• Goodyear reported a loss of ($0.17) EPS for the last quarter, missing the consensus estimate by $0.31, and revenue declined by 2.3% year-over-year.
• Analysts have downgraded Goodyear's stock, with HSBC reducing its target price from $15.50 to $9.50 and maintaining a "hold" rating, while Deutsche Bank set a new target of $12.00.

Dimensional Fund Advisors LP trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,666,865 shares of the company's stock after selling 130,071 shares during the quarter. Dimensional Fund Advisors LP owned about 5.14% of Goodyear Tire & Rubber worth $135,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GT. Envestnet Asset Management Inc. bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $157,000. Raymond James Financial Inc. bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth approximately $193,000. Mariner LLC raised its holdings in shares of Goodyear Tire & Rubber by 27.6% in the 4th quarter. Mariner LLC now owns 32,105 shares of the company's stock worth $289,000 after purchasing an additional 6,942 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of Goodyear Tire & Rubber by 57.4% in the 4th quarter. Guggenheim Capital LLC now owns 58,483 shares of the company's stock worth $526,000 after purchasing an additional 21,327 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Goodyear Tire & Rubber by 883.9% in the 4th quarter. Marshall Wace LLP now owns 716,414 shares of the company's stock worth $6,448,000 after purchasing an additional 643,597 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Down 0.5%

GT opened at $8.25 on Friday. The firm's 50-day simple moving average is $10.26 and its 200-day simple moving average is $10.08. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.03. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.73 and a beta of 1.37.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the company posted $0.19 EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GT has been the topic of a number of research reports. Hsbc Global Res downgraded shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Wednesday. HSBC reiterated a "hold" rating and issued a $9.50 target price (down from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, August 11th. BNP Paribas downgraded shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.25.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.

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