Private Advisor Group LLC raised its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 392.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,290 shares of the company’s stock after buying an additional 42,473 shares during the period. Private Advisor Group LLC’s holdings in The Goodyear Tire & Rubber Company were worth $1,478,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. acquired a new stake in shares of The Goodyear Tire & Rubber Company during the fourth quarter valued at about $122,228,000. Norges Bank purchased a new stake in The Goodyear Tire & Rubber Company during the fourth quarter worth $84,244,000. Eaton Vance Management increased its stake in The Goodyear Tire & Rubber Company by 72.2% in the third quarter. Eaton Vance Management now owns 3,915,368 shares of the company’s stock worth $126,466,000 after buying an additional 1,641,819 shares during the period. FMR LLC increased its stake in The Goodyear Tire & Rubber Company by 728.4% in the fourth quarter. FMR LLC now owns 1,128,218 shares of the company’s stock worth $34,828,000 after buying an additional 992,025 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in The Goodyear Tire & Rubber Company by 16.1% in the first quarter. Bank of New York Mellon Corp now owns 5,349,243 shares of the company’s stock worth $192,572,000 after buying an additional 742,406 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

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

The Goodyear Tire & Rubber Company (GT) traded down 3.29% during midday trading on Friday, reaching $33.51. 3,816,257 shares of the company traded hands. The stock has a market capitalization of $8.44 billion, a P/E ratio of 7.07 and a beta of 1.61. The company has a 50 day moving average of $34.17 and a 200-day moving average of $33.77. The Goodyear Tire & Rubber Company has a 12-month low of $24.31 and a 12-month high of $37.20.

The Goodyear Tire & Rubber Company (NASDAQ:GT) last posted its quarterly earnings results on Friday, April 28th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.11. The Goodyear Tire & Rubber Company had a net margin of 8.22% and a return on equity of 22.60%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the business posted $0.72 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that The Goodyear Tire & Rubber Company will post $3.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 1st were issued a $0.10 dividend. The ex-dividend date was Thursday, April 27th. This represents a $0.40 annualized dividend and a yield of 1.19%. The Goodyear Tire & Rubber Company’s dividend payout ratio (DPR) is presently 8.46%.

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GT has been the subject of a number of analyst reports. Jefferies Group LLC cut shares of The Goodyear Tire & Rubber Company from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a research note on Friday, February 24th. Citigroup Inc. lifted their target price on shares of The Goodyear Tire & Rubber Company from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, April 7th. Standpoint Research cut shares of The Goodyear Tire & Rubber Company from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Zacks Investment Research cut shares of The Goodyear Tire & Rubber Company from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Finally, Morgan Stanley upgraded shares of The Goodyear Tire & Rubber Company from an “underweight” rating to an “overweight” rating in a research note on Thursday, June 1st. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $35.15.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $35.32, for a total value of $220,750.00. Following the sale, the insider now directly owns 84,349 shares of the company’s stock, valued at approximately $2,979,206.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 18,750 shares of company stock valued at $661,625 over the last 90 days. Company insiders own 1.40% of the company’s stock.

The Goodyear Tire & Rubber Company 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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