Municipal Employees Retirement System of Michigan held its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,330 shares of the company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in The Goodyear Tire & Rubber Company were worth $732,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GT. Financial Architects Inc increased its stake in The Goodyear Tire & Rubber Company by 101.5% in the first quarter. Financial Architects Inc now owns 3,471 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in The Goodyear Tire & Rubber Company by 21.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,077 shares of the company’s stock worth $147,000 after buying an additional 716 shares during the last quarter. Pacer Advisors Inc. increased its stake in The Goodyear Tire & Rubber Company by 3.2% in the first quarter. Pacer Advisors Inc. now owns 5,426 shares of the company’s stock worth $195,000 after buying an additional 167 shares during the last quarter. Dai Ichi Life Insurance Company Ltd acquired a new stake in The Goodyear Tire & Rubber Company during the first quarter worth $200,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in The Goodyear Tire & Rubber Company during the first quarter worth $208,000. Institutional investors own 92.79% of the company’s stock.

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

Shares of The Goodyear Tire & Rubber Company (GT) traded down 0.24% on Tuesday, reaching $33.55. 985,497 shares of the company’s stock traded hands. The company’s 50-day moving average price is $34.09 and its 200 day moving average price is $33.84. The Goodyear Tire & Rubber Company has a one year low of $24.31 and a one year high of $37.20. The firm has a market cap of $8.45 billion, a P/E ratio of 7.08 and a beta of 1.61.

The Goodyear Tire & Rubber Company (NASDAQ:GT) last posted its quarterly earnings data on Friday, April 28th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.11. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.78 billion. The Goodyear Tire & Rubber Company had a net margin of 8.22% and a return on equity of 22.60%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post $3.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, April 27th. The Goodyear Tire & Rubber Company’s dividend payout ratio (DPR) is currently 8.46%.

TRADEMARK VIOLATION WARNING: This story was originally published by Daily Political and is the property of of Daily Political. If you are viewing this story on another domain, it was illegally stolen and republished in violation of US and international copyright and trademark legislation. The original version of this story can be read at https://www.dailypolitical.com/2017/06/20/the-goodyear-tire-rubber-company-gt-position-maintained-by-municipal-employees-retirement-system-of-michigan.html.

GT has been the subject of several research analyst reports. Jefferies Group LLC downgraded shares of The Goodyear Tire & Rubber Company from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research report on Friday, February 24th. Standpoint Research downgraded shares of The Goodyear Tire & Rubber Company from a “buy” rating to a “hold” rating in a research report on Wednesday, March 1st. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber Company from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Monday, April 17th. Citigroup Inc. boosted their price objective on shares of The Goodyear Tire & Rubber Company from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Finally, Morgan Stanley upgraded shares of The Goodyear Tire & Rubber Company from an “underweight” rating to an “overweight” rating in a research report on Thursday, June 1st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $35.04.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $35.32, for a total transaction of $220,750.00. Following the sale, the insider now owns 84,349 shares in the company, valued at approximately $2,979,206.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 18,750 shares of company stock worth $661,625. Corporate insiders own 1.40% of the company’s stock.

About The Goodyear Tire & Rubber Company

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.

Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goodyear Tire & Rubber Company (NASDAQ:GT).

Receive News & Ratings for The Goodyear Tire & Rubber Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goodyear Tire & Rubber Company and related companies with MarketBeat.com's FREE daily email newsletter.