As Magna Intl (MGA) Shares Declined, Heathbridge Capital Management LTD Lowered Its Stake by $2.51 Million; As Goodyear Tire & Rubber Co. (GT) Stock Value Declined, Icon Advisers Has Decreased Stake by $4.83 Million

April 19, 2018 - By Hazel Jackson

The Goodyear Tire & Rubber Company (NASDAQ:GT) Logo

Icon Advisers Inc decreased its stake in Goodyear Tire & Rubber Co. (GT) by 83.38% based on its latest 2017Q4 regulatory filing with the SEC. Icon Advisers Inc sold 151,000 shares as the company’s stock declined 18.63% with the market. The institutional investor held 30,100 shares of the automotive aftermarket company at the end of 2017Q4, valued at $973,000, down from 181,100 at the end of the previous reported quarter. Icon Advisers Inc who had been investing in Goodyear Tire & Rubber Co. for a number of months, seems to be less bullish one the $6.44 billion market cap company. The stock decreased 1.87% or $0.51 during the last trading session, reaching $26.77. About 1.36M shares traded. The Goodyear Tire & Rubber Company (NASDAQ:GT) has declined 25.73% since April 19, 2017 and is downtrending. It has underperformed by 37.28% the S&P500.

Heathbridge Capital Management Ltd decreased its stake in Magna Intl Inc (MGA) by 6.99% based on its latest 2017Q4 regulatory filing with the SEC. Heathbridge Capital Management Ltd sold 44,750 shares as the company’s stock declined 4.65% with the market. The institutional investor held 595,425 shares of the capital goods company at the end of 2017Q4, valued at $33.74 million, down from 640,175 at the end of the previous reported quarter. Heathbridge Capital Management Ltd who had been investing in Magna Intl Inc for a number of months, seems to be less bullish one the $20.14 billion market cap company. The stock decreased 2.47% or $1.48 during the last trading session, reaching $58.4. About 808,554 shares traded. Magna International Inc. (NYSE:MGA) has risen 26.62% since April 19, 2017 and is uptrending. It has outperformed by 15.07% the S&P500.

Heathbridge Capital Management Ltd, which manages about $513.95 million US Long portfolio, upped its stake in Thomson Reuters Corp (NYSE:TRI) by 12,200 shares to 618,050 shares, valued at $26.94 million in 2017Q4, according to the filing. It also increased its holding in Transcanada Corp (NYSE:TRP) by 32,200 shares in the quarter, for a total of 595,450 shares, and has risen its stake in Toronto Dominion Bk Ont (NYSE:TD).

Among 15 analysts covering Magna International (NYSE:MGA), 9 have Buy rating, 2 Sell and 4 Hold. Therefore 60% are positive. Magna International had 56 analyst reports since August 6, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Buy” on Wednesday, January 10. RBC Capital Markets maintained it with “Outperform” rating and $62 target in Thursday, January 14 report. The rating was upgraded by Citigroup on Monday, January 25 to “Buy”. Morgan Stanley downgraded the shares of MGA in report on Thursday, March 22 to “Sell” rating. The stock of Magna International Inc. (NYSE:MGA) has “Buy” rating given on Sunday, October 29 by RBC Capital Markets. The firm has “Hold” rating by BMO Capital Markets given on Thursday, June 22. RBC Capital Markets maintained the shares of MGA in report on Friday, June 16 with “Buy” rating. The firm has “Overweight” rating given on Thursday, March 17 by Morgan Stanley. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Monday, August 28. On Friday, January 12 the stock rating was upgraded by Wells Fargo to “Buy”.

Analysts await Magna International Inc. (NYSE:MGA) to report earnings on May, 10. They expect $1.68 earnings per share, up 9.80% or $0.15 from last year’s $1.53 per share. MGA’s profit will be $579.34M for 8.69 P/E if the $1.68 EPS becomes a reality. After $1.57 actual earnings per share reported by Magna International Inc. for the previous quarter, Wall Street now forecasts 7.01% EPS growth.

Analysts await The Goodyear Tire & Rubber Company (NASDAQ:GT) to report earnings on April, 25 before the open. They expect $0.44 earnings per share, down 40.54% or $0.30 from last year’s $0.74 per share. GT’s profit will be $105.82M for 15.21 P/E if the $0.44 EPS becomes a reality. After $0.99 actual earnings per share reported by The Goodyear Tire & Rubber Company for the previous quarter, Wall Street now forecasts -55.56% negative EPS growth.

Icon Advisers Inc, which manages about $2.21 billion and $1.45B US Long portfolio, upped its stake in Exelixis Inc. (NASDAQ:EXEL) by 42,149 shares to 74,149 shares, valued at $2.25M in 2017Q4, according to the filing. It also increased its holding in Lowe’s Cos. (NYSE:LOW) by 59,600 shares in the quarter, for a total of 114,200 shares, and has risen its stake in Wyndham Worldwide Corp. (NYSE:WYN).

Among 13 analysts covering Goodyear Tire (NASDAQ:GT), 7 have Buy rating, 0 Sell and 6 Hold. Therefore 54% are positive. Goodyear Tire had 35 analyst reports since October 28, 2015 according to SRatingsIntel. As per Wednesday, November 1, the company rating was downgraded by Guggenheim. The firm has “Hold” rating by Standpoint Research given on Wednesday, October 28. The stock has “Hold” rating by Goldman Sachs on Tuesday, August 1. Deutsche Bank downgraded The Goodyear Tire & Rubber Company (NASDAQ:GT) on Friday, July 28 to “Hold” rating. The stock has “Buy” rating by Jefferies on Sunday, January 28. The rating was maintained by KeyBanc Capital Markets with “Buy” on Thursday, November 9. Jefferies maintained the stock with “Buy” rating in Wednesday, April 4 report. The company was initiated on Tuesday, November 29 by Jefferies. The company was initiated on Tuesday, November 22 by Berenberg. The stock of The Goodyear Tire & Rubber Company (NASDAQ:GT) has “Buy” rating given on Monday, August 7 by Jefferies.

Investors sentiment decreased to 0.75 in 2017 Q4. Its down 0.29, from 1.04 in 2017Q3. It dropped, as 41 investors sold GT shares while 163 reduced holdings. 40 funds opened positions while 112 raised stakes. 211.29 million shares or 6.62% less from 226.27 million shares in 2017Q3 were reported. Aqr Capital Mngmt Ltd, a Connecticut-based fund reported 1.82 million shares. Principal Group Inc Inc invested in 524,601 shares or 0.02% of the stock. Fruth Invest Mngmt owns 21,200 shares. Robeco Institutional Asset Mgmt Bv holds 118,782 shares. Oregon Pub Employees Retirement Fund has 0.08% invested in The Goodyear Tire & Rubber Company (NASDAQ:GT) for 146,118 shares. Swiss Fincl Bank reported 927,600 shares. Daiwa Secs Grp accumulated 8,062 shares or 0% of the stock. Icon Advisers Co stated it has 0.07% in The Goodyear Tire & Rubber Company (NASDAQ:GT). 213,390 were reported by Chevy Chase Trust Holdings. Cornerstone Management Ltd Company reported 0.01% of its portfolio in The Goodyear Tire & Rubber Company (NASDAQ:GT). Assetmark owns 3,316 shares or 0% of their US portfolio. Pub Sector Pension Board owns 26,823 shares. Old Mutual Customised Solutions (Proprietary) accumulated 0.03% or 9,100 shares. 50,367 are held by Hartford. Davenport Co Limited Liability Co invested in 7,350 shares.

The Goodyear Tire & Rubber Company (NASDAQ:GT) Institutional Positions Chart

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