Hotchkis & Wiley Capital Management LLC decreased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,756,895 shares of the company’s stock after selling 264,500 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 2.68% of The Goodyear Tire & Rubber worth $236,221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Financial Architects Inc raised its holdings in The Goodyear Tire & Rubber by 2.2% during the 2nd quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock valued at $124,000 after acquiring an additional 75 shares during the period. First Quadrant L P CA bought a new position in shares of The Goodyear Tire & Rubber in the second quarter worth $130,000. Washington Trust Bank increased its holdings 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 purchasing an additional 1,230 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings 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 purchasing an additional 716 shares during the period. Finally, Exane Derivatives increased its holdings 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 purchasing an additional 4,096 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

The Goodyear Tire & Rubber Company (GT) traded up 0.56% during trading on Friday, reaching $32.43. 2,968,935 shares of the company were exchanged. The stock has a market capitalization of $8.16 billion, a P/E ratio of 7.07 and a beta of 1.54. The company’s 50-day moving average price is $30.80 and its 200-day moving average price is $33.94. The Goodyear Tire & Rubber Company has a 1-year low of $26.82 and a 1-year high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm earned $1.16 earnings per share. The Goodyear Tire & Rubber’s quarterly revenue was down 5.0% on a year-over-year basis. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.23%. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 8.77%.

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In related news, insider Stephen R. Mcclellan sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were 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 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 available at this hyperlink. In the last quarter, insiders have sold 6,751 shares of company stock valued at $236,741. 1.40% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on GT. Guggenheim 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 price target on the stock. Jefferies Group LLC set a $36.00 price target on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Monday, August 7th. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research lowered shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus price target of $38.10.

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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