US Bancorp DE lowered its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,099 shares of the company’s stock after selling 66,746 shares during the period. US Bancorp DE owned 0.08% of The Goodyear Tire & Rubber worth $6,646,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of GT. Financial Architects Inc raised its position in The Goodyear Tire & Rubber by 101.5% in the first quarter. Financial Architects Inc now owns 3,471 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares during the period. First Quadrant L P CA acquired a new position in The Goodyear Tire & Rubber during the second quarter worth $130,000. Exane Derivatives raised its position in The Goodyear Tire & Rubber by 204,800.0% in the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after buying an additional 4,096 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in The Goodyear Tire & Rubber by 21.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,077 shares of the company’s stock worth $147,000 after buying an additional 716 shares during the period. Finally, Global X Management Co. LLC raised its position in The Goodyear Tire & Rubber by 30.4% in the first quarter. Global X Management Co. LLC now owns 4,936 shares of the company’s stock worth $178,000 after buying an additional 1,150 shares during the period. 94.10% of the stock is owned by hedge funds and other institutional investors.

The Goodyear Tire & Rubber Company (NASDAQ:GT) traded down 0.53% during mid-day trading on Friday, hitting $29.75. The stock had a trading volume of 1,851,976 shares. The company has a market cap of $7.49 billion, a PE ratio of 6.48 and a beta of 1.53. The Goodyear Tire & Rubber Company has a one year low of $26.82 and a one year high of $37.20. The firm’s 50-day moving average price is $33.47 and its 200 day moving average price is $34.42.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $1.16 earnings per share. On average, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post $3.10 EPS for the current year.

The firm also recently declared 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 1.34%. The ex-dividend date of this dividend is Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio is presently 8.77%.

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GT has been the subject of a number of recent research reports. CLSA began coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 target price for the company. Guggenheim began coverage on The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price target for the company. Jefferies Group LLC upgraded The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Tuesday, June 20th. Morgan Stanley set a $52.00 price target on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, ValuEngine downgraded The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.10.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $35.46, for a total transaction of $221,625.00. Following the completion of the transaction, the insider now directly owns 71,849 shares in the company, valued at approximately $2,547,765.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 12,789 shares of company stock valued at $450,950. Company 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.

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

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