Candriam Luxembourg S.C.A. decreased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 50.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,256 shares of the company’s stock after selling 153,770 shares during the period. Candriam Luxembourg S.C.A. owned 0.06% of The Goodyear Tire & Rubber worth $5,288,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its stake in The Goodyear Tire & Rubber by 34.6% in the second quarter. Stratos Wealth Partners LTD. now owns 11,905 shares of the company’s stock valued at $416,000 after buying an additional 3,062 shares in the last quarter. Sei Investments Co. boosted its stake in The Goodyear Tire & Rubber by 28.1% in the second quarter. Sei Investments Co. now owns 56,284 shares of the company’s stock valued at $1,966,000 after buying an additional 12,354 shares in the last quarter. Pillar Pacific Capital Management LLC boosted its stake in The Goodyear Tire & Rubber by 0.5% in the second quarter. Pillar Pacific Capital Management LLC now owns 112,995 shares of the company’s stock valued at $3,950,000 after buying an additional 590 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in The Goodyear Tire & Rubber by 0.6% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 651,142 shares of the company’s stock valued at $22,764,000 after buying an additional 4,187 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its stake in The Goodyear Tire & Rubber by 1.1% in the second quarter. Bbva Compass Bancshares Inc. now owns 85,134 shares of the company’s stock valued at $2,977,000 after buying an additional 911 shares in the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The Goodyear Tire & Rubber’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.28%. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 8.77%.

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A number of brokerages recently commented on GT. Morgan Stanley reissued an “overweight” rating and set a $46.00 price target (down from $52.00) on shares of The Goodyear Tire & Rubber in a research note on Wednesday, August 2nd. BidaskClub lowered The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) set a $29.00 price target on The Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC set a $39.00 price target on The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Saturday, July 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The Goodyear Tire & Rubber presently has an average rating of “Hold” and an average target price of $38.40.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $35.29, for a total value of $220,562.50. Following the completion of the sale, the insider now directly owns 78,099 shares in the company, valued at $2,756,113.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 18,750 shares of company stock valued at $662,938 over the last 90 days. Company insiders own 1.40% of the company’s stock.

The Goodyear Tire & Rubber Company Profile

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.

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

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