Stratos Wealth Partners LTD. Increases Holdings in Goodyear Tire & Rubber Co (GT)

Stratos Wealth Partners LTD. boosted its position in Goodyear Tire & Rubber Co (NASDAQ:GT) by 1,774.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,048 shares of the company’s stock after purchasing an additional 77,670 shares during the period. Stratos Wealth Partners LTD.’s holdings in Goodyear Tire & Rubber were worth $2,181,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC lifted its position in shares of Goodyear Tire & Rubber by 164.5% during the 4th quarter. Advisory Services Network LLC now owns 3,832 shares of the company’s stock valued at $124,000 after buying an additional 2,383 shares in the last quarter. Smith Moore & CO. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $203,000. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $223,000. D.A. Davidson & CO. purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $233,000. Finally, Fiduciary Trust Co. lifted its position in shares of Goodyear Tire & Rubber by 54.7% during the 1st quarter. Fiduciary Trust Co. now owns 10,104 shares of the company’s stock valued at $268,000 after buying an additional 3,574 shares in the last quarter. 89.03% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:GT opened at $25.19 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.73 and a current ratio of 1.31. Goodyear Tire & Rubber Co has a 1 year low of $24.64 and a 1 year high of $36.52. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 8.69 and a beta of 1.81.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, April 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. Goodyear Tire & Rubber had a return on equity of 14.36% and a net margin of 1.64%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. equities analysts expect that Goodyear Tire & Rubber Co will post 3.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, April 30th. Goodyear Tire & Rubber’s payout ratio is 17.95%.

GT has been the topic of a number of research analyst reports. Argus reissued a “buy” rating and issued a $36.00 price target on shares of Goodyear Tire & Rubber in a report on Tuesday, May 8th. ValuEngine cut Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Jefferies Group set a $38.00 price target on Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Wednesday, April 4th. Zacks Investment Research raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, January 29th. Finally, Guggenheim set a $32.00 price target on Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $35.45.

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. It 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.

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

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