State of New Jersey Common Pension Fund D maintained its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,000 shares of the company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in The Goodyear Tire & Rubber were worth $8,740,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Financial Architects Inc raised its position in The Goodyear Tire & Rubber by 2.2% in the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after buying an additional 75 shares during the period. First Quadrant L P CA purchased a new position in The Goodyear Tire & Rubber during the second quarter worth about $130,000. Washington Trust Bank raised its position in The Goodyear Tire & Rubber by 46.3% in the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after buying an additional 1,230 shares during the period. Exane Derivatives raised its position in The Goodyear Tire & Rubber by 204,800.0% in the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after buying an additional 4,096 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in The Goodyear Tire & Rubber 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 period. 92.91% of the stock is currently owned by hedge funds and other institutional investors.

The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 30.43 on Friday. The stock’s 50 day moving average is $34.17 and its 200 day moving average is $34.47. The Goodyear Tire & Rubber Company has a one year low of $26.82 and a one year high of $37.20. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 6.63 and a beta of 1.53.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.70 earnings per share (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 analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post $3.11 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The Goodyear Tire & Rubber’s dividend payout ratio is 8.77%.

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A number of research analysts have issued reports on GT shares. Morgan Stanley upgraded shares of The Goodyear Tire & Rubber from an “underweight” rating to an “overweight” rating in a report on Thursday, June 1st. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, April 17th. Jefferies Group LLC set a $40.00 target price on shares of The Goodyear Tire & Rubber and gave the company a “hold” rating in a report on Monday, May 8th. ValuEngine lowered shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, BidaskClub lowered shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $38.10.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $35.46, for a total transaction of $221,625.00. Following the completion of the sale, the insider now directly owns 71,849 shares in the company, valued at approximately $2,547,765.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by insiders.

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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