Stoneridge Investment Partners LLC raised its stake in The Goodyear Tire & Rubber Co. (NASDAQ:GT) by 152.3% during the second quarter, Holdings Channel reports. The fund owned 139,861 shares of the company’s stock after buying an additional 84,436 shares during the period. Stoneridge Investment Partners LLC owned 0.05% of The Goodyear Tire & Rubber Co. worth $3,589,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of GT. Bank of Montreal Can purchased a new position in The Goodyear Tire & Rubber Co. during the second quarter valued at approximately $2,045,000. Shell Asset Management Co. raised its position in The Goodyear Tire & Rubber Co. by 3.5% in the second quarter. Shell Asset Management Co. now owns 56,433 shares of the company’s stock valued at $1,448,000 after buying an additional 1,885 shares during the period. Daiwa Securities Group Inc. raised its position in The Goodyear Tire & Rubber Co. by 9.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,450 shares of the company’s stock valued at $166,000 after buying an additional 550 shares during the period. LS Investment Advisors LLC raised its position in The Goodyear Tire & Rubber Co. by 11.5% in the second quarter. LS Investment Advisors LLC now owns 11,668 shares of the company’s stock valued at $299,000 after buying an additional 1,206 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new position in The Goodyear Tire & Rubber Co. during the second quarter valued at approximately $375,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded down 0.96% on Tuesday, reaching $31.91. The company had a trading volume of 3,436,225 shares. The Goodyear Tire & Rubber Co. has a 12 month low of $24.31 and a 12 month high of $35.30. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 31.38 and a beta of 1.83. The stock has a 50 day moving average price of $29.67 and a 200-day moving average price of $29.17.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.13. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.93 billion. The Goodyear Tire & Rubber Co. had a return on equity of 24.06% and a net margin of 1.75%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. Analysts forecast that The Goodyear Tire & Rubber Co. will post $4.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 1st will be issued a $0.10 dividend. This is an increase from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, October 28th. The Goodyear Tire & Rubber Co.’s payout ratio is presently 28.00%.

GT has been the topic of several research analyst reports. Deutsche Bank AG raised The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Tuesday, September 6th. Credit Agricole SA boosted their target price on The Goodyear Tire & Rubber Co. from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Friday. Citigroup Inc. boosted their target price on The Goodyear Tire & Rubber Co. from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Vetr lowered The Goodyear Tire & Rubber Co. from a “strong-buy” rating to a “buy” rating and set a $30.38 target price on the stock. in a report on Wednesday, June 8th. Finally, Zacks Investment Research raised The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, July 13th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The Goodyear Tire & Rubber Co. currently has an average rating of “Buy” and an average target price of $35.30.

The Goodyear Tire & Rubber Co. Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific.

5 Day Chart for NASDAQ:GT

Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goodyear Tire & Rubber Co. (NASDAQ:GT).

Receive News & Ratings for The Goodyear Tire & Rubber Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goodyear Tire & Rubber Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.