Stevens Capital Management LP acquired a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,855 shares of the company’s stock, valued at approximately $484,000.

Other hedge funds have also recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its position in shares of The Goodyear Tire & Rubber by 19.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 33,711 shares of the company’s stock worth $1,214,000 after acquiring an additional 5,539 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of The Goodyear Tire & Rubber by 5.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,228,322 shares of the company’s stock worth $42,943,000 after acquiring an additional 62,499 shares during the period. Prudential Financial Inc. lifted its position in shares of The Goodyear Tire & Rubber by 47.0% in the 2nd quarter. Prudential Financial Inc. now owns 976,079 shares of the company’s stock worth $34,124,000 after acquiring an additional 312,298 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of The Goodyear Tire & Rubber by 602.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,295,362 shares of the company’s stock worth $46,633,000 after acquiring an additional 1,110,842 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of The Goodyear Tire & Rubber by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 1,349,022 shares of the company’s stock worth $47,164,000 after acquiring an additional 20,952 shares during the period. Institutional investors own 90.33% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (GT) opened at 33.29 on Thursday. The company’s 50-day moving average price is $30.81 and its 200-day moving average price is $33.87. 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 capitalization of $8.38 billion, a PE ratio of 7.25 and a beta of 1.54.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, July 28th. The Goodyear Tire & Rubber’s payout ratio is presently 8.77%.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.44, for a total transaction of $243,300.00. Following the completion of the sale, the insider now directly owns 74,348 shares in the company, valued at $2,411,849.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction on Monday, July 10th. The stock was 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 $2,547,765.54. The disclosure for this sale can be found here. Insiders have sold 14,251 shares of company stock valued at $480,041 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Several equities analysts recently commented on the company. BidaskClub upgraded The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Morgan Stanley restated a “buy” rating and set a $46.00 target price on shares of The Goodyear Tire & Rubber in a research report on Monday, September 11th. Jefferies Group LLC set a $36.00 target price on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Monday, August 7th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The Goodyear Tire & Rubber currently has an average rating of “Hold” and an average target price of $38.22.

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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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