Cedar Hill Associates LLC decreased its position in Goodyear Tire & Rubber Co (NASDAQ:GT) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,603 shares of the company’s stock after selling 23,365 shares during the period. Cedar Hill Associates LLC owned about 0.08% of Goodyear Tire & Rubber worth $4,416,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GT. Trilogy Capital Inc. acquired a new position in Goodyear Tire & Rubber in the 1st quarter valued at approximately $160,000. Point72 Asia Hong Kong Ltd grew its stake in shares of Goodyear Tire & Rubber by 1,888.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 6,603 shares of the company’s stock valued at $176,000 after purchasing an additional 6,271 shares during the period. Ostrum Asset Management bought a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $179,000. Rampart Investment Management Company LLC grew its stake in shares of Goodyear Tire & Rubber by 115.6% in the 1st quarter. Rampart Investment Management Company LLC now owns 7,224 shares of the company’s stock valued at $192,000 after purchasing an additional 3,874 shares during the period. Finally, Oakbrook Investments LLC bought a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at approximately $238,000. 87.66% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on GT. Longbow Research reiterated a “hold” rating on shares of Goodyear Tire & Rubber in a research note on Tuesday, April 17th. BidaskClub upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Friday, May 18th. Citigroup lowered their price objective on Goodyear Tire & Rubber from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 22nd. JPMorgan Chase & Co. lowered their price objective on Goodyear Tire & Rubber from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, April 26th. Finally, ValuEngine lowered Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.50.

Goodyear Tire & Rubber opened at $24.77 on Friday, according to MarketBeat Ratings. The company has a market cap of $5.93 billion, a P/E ratio of 8.87 and a beta of 1.65. Goodyear Tire & Rubber Co has a one year low of $20.75 and a one year high of $36.07. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.36.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, July 27th. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.85 billion. Goodyear Tire & Rubber had a return on equity of 14.04% and a net margin of 1.69%. Goodyear Tire & Rubber’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 EPS. analysts forecast that Goodyear Tire & Rubber Co will post 3.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Wednesday, August 1st will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, July 31st. This represents a $0.56 dividend on an annualized basis and a yield of 2.26%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 17.95%.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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

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