HL Financial Services LLC reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 21,579 shares of the company’s stock after selling 600 shares during the period. HL Financial Services LLC’s holdings in The Goodyear Tire & Rubber were worth $754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GT. Gateway Investment Advisers LLC raised its stake in The Goodyear Tire & Rubber by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 15,882 shares of the company’s stock valued at $555,000 after buying an additional 42 shares during the period. Financial Architects Inc raised its stake 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 valued at $124,000 after buying an additional 75 shares during the period. Huntington National Bank raised its stake in The Goodyear Tire & Rubber by 1.3% in the first quarter. Huntington National Bank now owns 7,554 shares of the company’s stock valued at $272,000 after buying an additional 97 shares during the period. Louisiana State Employees Retirement System raised its stake in The Goodyear Tire & Rubber by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the company’s stock valued at $545,000 after buying an additional 100 shares during the period. Finally, Thrivent Financial For Lutherans raised its stake in The Goodyear Tire & Rubber by 1.5% in the first quarter. Thrivent Financial For Lutherans now owns 9,280 shares of the company’s stock valued at $334,000 after buying an additional 140 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 company’s 50 day moving average price is $34.08 and its 200-day moving average price is $34.47. The Goodyear Tire & Rubber Company has a 1-year low of $26.82 and a 1-year high of $37.20. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 6.59 and a beta of 1.53.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results 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 Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the company earned $1.16 EPS. The Goodyear Tire & Rubber’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities analysts expect that The Goodyear Tire & Rubber Company will post $3.11 EPS for the current fiscal year.

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 paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 8.77%.

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Several analysts have weighed in on the company. Goldman Sachs Group, Inc. (The) set a $29.00 target price on The Goodyear Tire & Rubber and gave the company a “hold” rating in a report on Tuesday, August 1st. BidaskClub lowered The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Jefferies Group LLC set a $36.00 target price on The Goodyear Tire & Rubber and gave the company a “buy” rating in a report on Monday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $46.00 target price (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.10.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction that occurred on 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 owns 71,849 shares in the company, valued at $2,547,765.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate 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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