Public Employees Retirement Association of Colorado decreased its position in shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,794,774 shares of the company’s stock after selling 9,208 shares during the period. Public Employees Retirement Association of Colorado owned 0.67% of The Goodyear Tire & Rubber Co. worth $46,054,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Huntington National Bank raised its stake in The Goodyear Tire & Rubber Co. by 4.7% in the second quarter. Huntington National Bank now owns 7,434 shares of the company’s stock valued at $190,000 after buying an additional 331 shares in the last quarter. NEXT Financial Group Inc raised its stake in The Goodyear Tire & Rubber Co. by 5.2% in the second quarter. NEXT Financial Group Inc now owns 10,109 shares of the company’s stock worth $259,000 after buying an additional 502 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in The Goodyear Tire & Rubber Co. by 9.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,450 shares of the company’s stock worth $166,000 after buying an additional 550 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in The Goodyear Tire & Rubber Co. by 5.1% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,396 shares of the company’s stock worth $292,000 after buying an additional 553 shares during the last quarter. Finally, HL Financial Services LLC raised its stake in The Goodyear Tire & Rubber Co. by 0.7% in the second quarter. HL Financial Services LLC now owns 116,013 shares of the company’s stock worth $2,977,000 after buying an additional 778 shares during the last quarter. 92.93% of the stock is owned by hedge funds and other institutional investors.

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

The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded down 0.49% during midday trading on Monday, reaching $32.67. The company had a trading volume of 989,292 shares. The firm has a market capitalization of $8.57 billion, a P/E ratio of 32.12 and a beta of 1.73. The Goodyear Tire & Rubber Co. has a one year low of $24.31 and a one year high of $35.30. The stock’s 50 day moving average price is $31.08 and its 200-day moving average price is $29.20.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last announced its earnings results on Wednesday, July 27th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.13. The Goodyear Tire & Rubber Co. had a net margin of 1.75% and a return on equity of 24.06%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that The Goodyear Tire & Rubber Co. will post $4.08 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 1st will be given a dividend of $0.10 per share. This is a positive change from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, October 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The Goodyear Tire & Rubber Co.’s dividend payout ratio (DPR) is currently 28.00%.

Several analysts recently issued reports on GT shares. Deutsche Bank AG upgraded The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Tuesday, September 6th. Citigroup Inc. increased their price objective on The Goodyear Tire & Rubber Co. from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Zacks Investment Research upgraded The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, July 13th. Vetr lowered The Goodyear Tire & Rubber Co. from a “strong-buy” rating to a “buy” rating and set a $30.38 price objective for the company. in a report on Monday, June 20th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and set a $35.00 price objective on shares of The Goodyear Tire & Rubber Co. in a report on Saturday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.26.

About The Goodyear Tire & Rubber Co.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific.

5 Day Chart for NASDAQ:GT

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