Eaton Vance Management trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 13.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,331,867 shares of the company’s stock after selling 681,683 shares during the quarter. Eaton Vance Management owned 1.72% of The Goodyear Tire & Rubber worth $151,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in The Goodyear Tire & Rubber by 3,674.6% during the 1st quarter. BlackRock Inc. now owns 22,277,221 shares of the company’s stock worth $801,980,000 after buying an additional 21,687,034 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in The Goodyear Tire & Rubber by 79.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 7,021,395 shares of the company’s stock worth $252,770,000 after buying an additional 3,111,559 shares during the last quarter. Sound Shore Management Inc. CT purchased a new stake in The Goodyear Tire & Rubber during the 2nd quarter worth about $101,396,000. FMR LLC lifted its holdings in The Goodyear Tire & Rubber by 173.3% during the 1st quarter. FMR LLC now owns 3,083,621 shares of the company’s stock worth $111,011,000 after buying an additional 1,955,403 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in The Goodyear Tire & Rubber by 602.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,295,362 shares of the company’s stock worth $46,633,000 after buying an additional 1,110,842 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the 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 transaction, the insider now owns 78,099 shares of the company’s stock, valued at $2,756,113.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 13,001 shares of company stock worth $457,304 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

The Goodyear Tire & Rubber Company (NASDAQ:GT) traded down 0.345% during mid-day trading on Thursday, hitting $30.335. The stock had a trading volume of 327,965 shares. The company has a 50-day moving average of $31.59 and a 200-day moving average of $34.12. The Goodyear Tire & Rubber Company has a 12-month low of $26.82 and a 12-month high of $37.20. The firm has a market cap of $7.64 billion, a PE ratio of 6.609 and a beta of 1.54.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing the 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 company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the business posted $1.16 EPS. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. Analysts expect that The Goodyear Tire & Rubber Company will post $3.04 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st were given a dividend of $0.10 per share. The ex-dividend date was Friday, July 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

A number of analysts have issued reports on the company. Jefferies Group LLC set a $36.00 price target on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Monday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $46.00 price target (down from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. BidaskClub downgraded The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) set a $29.00 price target on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two 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 has a consensus rating of “Hold” and an average price target of $38.10.

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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.

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

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