KBC Group NV decreased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,775 shares of the company’s stock after selling 2,371 shares during the period. KBC Group NV’s holdings in The Goodyear Tire & Rubber were worth $1,356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GT. Financial Architects Inc increased its position in shares of The Goodyear Tire & Rubber by 2.2% in the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after buying an additional 75 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of The Goodyear Tire & Rubber during the second quarter worth approximately $130,000. Washington Trust Bank increased its position in shares of The Goodyear Tire & Rubber by 46.3% in the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after buying an additional 1,230 shares during the last quarter. Exane Derivatives increased its position in shares of 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of 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 last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) opened at 29.98 on Thursday. The stock has a market capitalization of $7.55 billion, a PE ratio of 6.53 and a beta of 1.53. The stock has a 50 day moving average of $32.80 and a 200-day moving average of $34.34. The Goodyear Tire & Rubber Company has a one year low of $26.82 and a one year high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities analysts predict that The Goodyear Tire & Rubber Company will post $3.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, July 28th. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

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Several equities analysts have issued reports on the stock. Deutsche Bank AG downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research note on Friday, July 28th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of The Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Tuesday, August 1st. Morgan Stanley restated an “overweight” rating and issued a $46.00 price objective (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a research note on Wednesday, August 2nd. Jefferies Group LLC set a $36.00 price objective on shares of The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. 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’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.10.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $35.46, for a total value of $221,625.00. Following the sale, the insider now owns 71,849 shares of the company’s stock, valued at approximately $2,547,765.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 13,001 shares of company stock worth $457,304. 1.40% of the stock is owned by insiders.

The Goodyear Tire & Rubber 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.

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

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