BNP Paribas Arbitrage SA lowered its position in shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) by 46.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 160,816 shares of the company’s stock after selling 136,766 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of The Goodyear Tire & Rubber Co. worth $5,194,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. boosted its stake in shares of The Goodyear Tire & Rubber Co. by 43.3% in the second quarter. Whittier Trust Co. now owns 4,935 shares of the company’s stock worth $127,000 after buying an additional 1,491 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of The Goodyear Tire & Rubber Co. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 5,323 shares of the company’s stock worth $137,000 after buying an additional 479 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of 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 in the last quarter. TradeLink Capital LLC boosted its stake in shares of The Goodyear Tire & Rubber Co. by 4.6% in the second quarter. TradeLink Capital LLC now owns 7,833 shares of the company’s stock worth $201,000 after buying an additional 343 shares in the last quarter. Finally, Telemus Capital LLC bought a new stake in shares of The Goodyear Tire & Rubber Co. during the second quarter worth $207,000. Institutional investors and hedge funds own 90.58% of the company’s stock.

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

The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded up 0.78% during trading on Friday, reaching $31.16. The company’s stock had a trading volume of 1,300,856 shares. The Goodyear Tire & Rubber Co. has a 52 week low of $24.31 and a 52 week high of $35.30. The firm has a market cap of $8.13 billion, a P/E ratio of 26.03 and a beta of 1.33. The stock’s 50 day moving average is $30.35 and its 200-day moving average is $28.99.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. The Goodyear Tire & Rubber Co. had a return on equity of 24.47% and a net margin of 2.09%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts forecast that The Goodyear Tire & Rubber Co. will post $3.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, October 28th. This is a positive change from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. The Goodyear Tire & Rubber Co.’s dividend payout ratio is 33.33%.

COPYRIGHT VIOLATION WARNING: This report was posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright laws. The legal version of this report can be read at https://www.thecerbatgem.com/2016/11/26/the-goodyear-tire-rubber-co-gt-position-decreased-by-bnp-paribas-arbitrage-sa.html.

A number of research firms recently issued reports on GT. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $35.00 target price on shares of The Goodyear Tire & Rubber Co. in a report on Saturday, October 8th. Morgan Stanley set a $24.00 target price on The Goodyear Tire & Rubber Co. and gave the stock a “sell” rating in a report on Thursday. Berenberg Bank assumed coverage on The Goodyear Tire & Rubber Co. in a research note on Tuesday. They issued a “buy” rating and a $36.00 price target on the stock. lifted their price target on The Goodyear Tire & Rubber Co. from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, September 16th. Finally, Deutsche Bank AG raised The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $34.04.

The Goodyear Tire & Rubber Co. Company Profile

The Goodyear Tire & Rubber Company is engaged in developing, manufacturing, marketing and distributing tires for various applications. It also manufactures and markets rubber-related chemicals for various applications. The Company’s Americas business comprises businesses of North America and Latin America.

5 Day Chart for NASDAQ:GT

Receive News & Stock Ratings for The Goodyear Tire & Rubber Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goodyear Tire & Rubber Co. and related stocks with our FREE daily email newsletter.