Cambridge Investment Research Advisors Inc. trimmed its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,358 shares of the company’s stock after selling 688 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in The Goodyear Tire & Rubber were worth $362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GT. Gateway Investment Advisers LLC boosted its position in shares of 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 worth $555,000 after buying an additional 42 shares during the period. Financial Architects Inc boosted its position in shares of 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. Louisiana State Employees Retirement System boosted its position in shares of 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 worth $545,000 after buying an additional 100 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of 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 worth $334,000 after buying an additional 140 shares during the period. Finally, Capstone Asset Management Co. boosted its position in shares of The Goodyear Tire & Rubber by 0.4% in the second quarter. Capstone Asset Management Co. now owns 38,605 shares of the company’s stock worth $1,350,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (GT) opened at 32.43 on Friday. The Goodyear Tire & Rubber Company has a 52-week low of $26.82 and a 52-week high of $37.20. The company’s 50-day moving average price is $30.80 and its 200-day moving average price is $33.94. The firm has a market cap of $8.16 billion, a PE ratio of 7.07 and a beta of 1.54.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. Equities analysts expect that The Goodyear Tire & Rubber Company will post $3.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 8.77%.

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In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of the 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 transaction, the insider now owns 71,849 shares in the company, valued at approximately $2,547,765.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 6,751 shares of company stock valued at $236,741. Corporate insiders own 1.40% of the company’s stock.

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

The Goodyear Tire & Rubber 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.

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

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