TIAA CREF Investment Management LLC increased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,522,738 shares of the company’s stock after buying an additional 92,480 shares during the period. TIAA CREF Investment Management LLC owned about 1.00% of The Goodyear Tire & Rubber worth $88,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GT. Janney Montgomery Scott LLC increased its holdings in The Goodyear Tire & Rubber by 26.6% during the first quarter. Janney Montgomery Scott LLC now owns 11,849 shares of the company’s stock worth $427,000 after buying an additional 2,487 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in The Goodyear Tire & Rubber by 1,290.9% during the first quarter. Canada Pension Plan Investment Board now owns 30,600 shares of the company’s stock worth $1,102,000 after buying an additional 28,400 shares during the last quarter. American Century Companies Inc. increased its holdings in The Goodyear Tire & Rubber by 8.9% during the first quarter. American Century Companies Inc. now owns 116,462 shares of the company’s stock worth $4,193,000 after buying an additional 9,493 shares during the last quarter. Suntrust Banks Inc. increased its holdings in The Goodyear Tire & Rubber by 51.9% during the first quarter. Suntrust Banks Inc. now owns 10,773 shares of the company’s stock worth $387,000 after buying an additional 3,679 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in The Goodyear Tire & Rubber by 0.9% during the first quarter. Pictet Asset Management Ltd. now owns 138,541 shares of the company’s stock worth $4,987,000 after buying an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

The Goodyear Tire & Rubber Company (NASDAQ GT) opened at 32.43 on Friday. The stock has a market cap of $8.16 billion, a P/E ratio of 7.07 and a beta of 1.54. The stock has a 50 day moving average of $30.80 and a 200 day moving average of $33.94. The Goodyear Tire & Rubber Company has a 1-year low of $26.82 and a 1-year high of $37.20.

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 Thomson Reuters’ consensus estimate of $0.75 by ($0.05). The firm had revenue of $3.69 billion during 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 company’s revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. Equities analysts anticipate that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current fiscal year.

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

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A number of analysts recently issued reports on the stock. Guggenheim began coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They set a “buy” rating and a $39.00 price objective for the company. Jefferies Group LLC set a $36.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Monday, August 7th. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The Goodyear Tire & Rubber has a consensus rating of “Hold” and a consensus price target of $38.10.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $35.46, for a total value of $221,625.00. Following the completion of the sale, the insider now directly owns 71,849 shares of the company’s stock, valued at approximately $2,547,765.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 6,751 shares of company stock valued at $236,741 over the last three months. 1.40% of the stock is currently 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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