First Quadrant L P CA bought a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the second quarter, according to its most recent filing with the SEC. The firm bought 3,729 shares of the company’s stock, valued at approximately $130,000.

A number of other institutional investors also recently made changes to their positions in GT. Gateway Investment Advisers LLC raised its position in shares of The Goodyear Tire & Rubber by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 15,882 shares of the company’s stock worth $555,000 after buying an additional 42 shares during the last quarter. Huntington National Bank raised its position in shares of The Goodyear Tire & Rubber by 1.3% in the first quarter. Huntington National Bank now owns 7,554 shares of the company’s stock worth $272,000 after buying an additional 97 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of The Goodyear Tire & Rubber by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the company’s stock worth $545,000 after buying an additional 100 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of The Goodyear Tire & Rubber by 1.5% in the first quarter. Thrivent Financial For Lutherans now owns 9,280 shares of the company’s stock worth $334,000 after buying an additional 140 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of The Goodyear Tire & Rubber by 0.4% in the second quarter. Capstone Asset Management Co. now owns 38,605 shares of the company’s stock worth $1,350,000 after buying an additional 165 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

The Goodyear Tire & Rubber Company (GT) traded up 0.51% during trading on Friday, hitting $31.27. 1,367,441 shares of the stock were exchanged. The firm’s 50-day moving average is $34.76 and its 200 day moving average is $34.52. The firm has a market cap of $7.87 billion, a PE ratio of 6.81 and a beta of 1.53. The Goodyear Tire & Rubber Company has a 52 week low of $26.82 and a 52 week high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share. Analysts expect that The Goodyear Tire & Rubber Company will post $3.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio is currently 8.77%.

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A number of brokerages recently weighed in on GT. Jefferies Group LLC set a $40.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Monday, May 8th. Guggenheim began coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They issued a “buy” rating and a $39.00 target price for the company. Zacks Investment Research lowered shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Tuesday. Finally, BidaskClub downgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.40.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $35.29, for a total transaction of $220,562.50. Following the completion of the transaction, the insider now directly owns 78,099 shares in the company, valued at $2,756,113.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 18,750 shares of company stock valued at $662,938 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

About The Goodyear Tire & Rubber

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

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