Pictet Asset Management Ltd. trimmed its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,952 shares of the company’s stock after selling 4,489 shares during the period. Pictet Asset Management Ltd. owned approximately 0.05% of The Goodyear Tire & Rubber worth $4,288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Shore Management Inc. CT acquired a new position in shares of The Goodyear Tire & Rubber in the 2nd quarter valued at $101,396,000. Bank of New York Mellon Corp lifted its stake in shares of The Goodyear Tire & Rubber by 15.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,202,190 shares of the company’s stock valued at $216,826,000 after purchasing an additional 852,947 shares during the period. LSV Asset Management lifted its stake in shares of The Goodyear Tire & Rubber by 6.6% in the 2nd quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock valued at $357,644,000 after purchasing an additional 634,919 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of The Goodyear Tire & Rubber by 94.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,296,130 shares of the company’s stock valued at $45,313,000 after purchasing an additional 628,221 shares during the period. Finally, Seatown Holdings Pte. Ltd. acquired a new position in shares of The Goodyear Tire & Rubber in the 2nd quarter valued at $21,686,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

In related news, insider Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $33.26, for a total value of $249,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 23,001 shares of company stock valued at $736,841 in the last three months. 1.40% of the stock is currently owned by insiders.

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Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at $29.07 on Friday. The Goodyear Tire & Rubber Company has a 1-year low of $28.81 and a 1-year high of $37.20. The stock has a market cap of $7,160.73, a price-to-earnings ratio of 9.38, a PEG ratio of 0.81 and a beta of 1.51. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.03. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts forecast that The Goodyear Tire & Rubber Company will post 2.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s dividend payout ratio is currently 14.47%.

A number of equities analysts have weighed in on GT shares. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. ValuEngine cut shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Deutsche Bank AG cut shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Friday, July 28th. Morgan Stanley set a $52.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, BidaskClub cut shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $37.55.

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.

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

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