Advisor Partners LLC cut its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,075 shares of the company’s stock after selling 148 shares during the period. Advisor Partners LLC’s holdings in The Goodyear Tire & Rubber were worth $247,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Macquarie Group Ltd. increased its stake in shares of The Goodyear Tire & Rubber by 51.9% in the fourth quarter. Macquarie Group Ltd. now owns 98,450 shares of the company’s stock valued at $3,039,000 after buying an additional 33,650 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of The Goodyear Tire & Rubber by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 77,860 shares of the company’s stock valued at $2,802,000 after buying an additional 800 shares during the period. Bank of Montreal Can increased its stake in shares of The Goodyear Tire & Rubber by 5.2% in the first quarter. Bank of Montreal Can now owns 94,973 shares of the company’s stock valued at $3,419,000 after buying an additional 4,709 shares during the period. Capstone Asset Management Co. increased its stake in shares of The Goodyear Tire & Rubber by 13.3% in the first quarter. Capstone Asset Management Co. now owns 38,440 shares of the company’s stock valued at $1,384,000 after buying an additional 4,515 shares during the period. Finally, Regent Investment Management LLC increased its stake in shares of The Goodyear Tire & Rubber by 29.9% in the first quarter. Regent Investment Management LLC now owns 12,600 shares of the company’s stock valued at $454,000 after buying an additional 2,900 shares during the period. Hedge funds and other institutional investors own 92.91% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 30.27 on Friday. The firm has a market capitalization of $7.62 billion, a PE ratio of 6.59 and a beta of 1.53. The company has a 50 day moving average price of $34.08 and a 200-day moving average price of $34.47. The Goodyear Tire & Rubber Company has a 12 month low of $26.82 and a 12 month high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. Equities research analysts expect that The Goodyear Tire & Rubber Company will post $3.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be paid 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 yield of 1.32%. The Goodyear Tire & Rubber’s payout ratio is currently 8.77%.

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Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Deutsche Bank AG downgraded The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Friday, July 28th. Morgan Stanley set a $52.00 price target on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, ValuEngine downgraded The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.10.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber 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 transaction, the insider now directly owns 78,099 shares in the company, valued at $2,756,113.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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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