ProShare Advisors LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,594 shares of the company’s stock after selling 953 shares during the period. ProShare Advisors LLC’s holdings in The Goodyear Tire & Rubber were worth $720,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GT. Gateway Investment Advisers LLC grew its position in shares of The Goodyear Tire & Rubber by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 15,882 shares of the company’s stock worth $555,000 after acquiring an additional 42 shares in the last quarter. Financial Architects Inc increased its holdings in shares of The Goodyear Tire & Rubber by 2.2% in 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 last quarter. Louisiana State Employees Retirement System raised its position in shares of The Goodyear Tire & Rubber by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the company’s stock valued at $545,000 after acquiring an additional 100 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of The Goodyear Tire & Rubber by 1.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 9,280 shares of the company’s stock valued at $334,000 after acquiring an additional 140 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of The Goodyear Tire & Rubber by 0.4% during the 2nd quarter. Capstone Asset Management Co. now owns 38,605 shares of the company’s stock valued at $1,350,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.

The Goodyear Tire & Rubber Company (GT) opened at 33.57 on Tuesday. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 7.31 and a beta of 1.56. The Goodyear Tire & Rubber Company has a 12-month low of $26.82 and a 12-month high of $37.20. The company’s 50-day moving average price is $31.28 and its 200-day moving average price is $33.68.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results 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 firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The Goodyear Tire & Rubber’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS. Equities analysts expect that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current fiscal year.

In related news, insider Jean Claude Kihn sold 7,500 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $32.44, for a total value of $243,300.00. Following the sale, the insider now directly owns 74,348 shares in the company, valued at approximately $2,411,849.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen R. Mcclellan sold 6,250 shares of the 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 sale, the insider now owns 71,849 shares in the company, valued at $2,547,765.54. The disclosure for this sale can be found here. Insiders have sold a total of 14,251 shares of company stock valued at $480,041 in the last ninety days. Company insiders own 1.40% of the company’s stock.

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A number of brokerages recently weighed in on GT. Morgan Stanley reaffirmed a “buy” rating and set a $46.00 price objective on shares of The Goodyear Tire & Rubber in a research report on Monday, September 11th. Deutsche Bank AG cut shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Friday, July 28th. BidaskClub downgraded The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC set a $39.00 target price on The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Saturday, July 29th. Finally, ValuEngine lowered The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $38.22.

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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