Ameriprise Financial Inc. lowered its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 546,919 shares of the company’s stock after selling 693 shares during the period. Ameriprise Financial Inc. owned 0.22% of The Goodyear Tire & Rubber worth $19,122,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Financial Architects Inc increased its stake in The Goodyear Tire & Rubber by 2.2% in the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock valued at $124,000 after purchasing an additional 75 shares during the period. First Quadrant L P CA purchased a new stake in shares of The Goodyear Tire & Rubber in the second quarter valued at about $130,000. Washington Trust Bank raised 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 valued at $136,000 after buying an additional 1,230 shares during the last quarter. Exane Derivatives raised 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 valued at $143,000 after buying an additional 4,096 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of The Goodyear Tire & Rubber in the second quarter valued at about $160,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 33.25 on Monday. The company has a 50-day moving average of $30.81 and a 200-day moving average of $33.87. The firm has a market cap of $8.37 billion, a P/E ratio of 7.24 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 Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $3.70 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. Equities analysts forecast that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current fiscal year.

In other news, insider Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 74,348 shares in the company, valued at $2,411,849.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen R. Mcclellan sold 6,250 shares of the business’s stock in a transaction that occurred 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 transaction, 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 in the last 90 days. Insiders own 1.40% of the company’s stock.

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A number of equities analysts recently 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. BidaskClub cut The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on The Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Tuesday, August 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $46.00 price objective (down from $52.00) on shares of The Goodyear Tire & Rubber in a research note on Wednesday, August 2nd. Finally, CLSA assumed coverage on The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They set a “buy” rating and a $39.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The Goodyear Tire & Rubber has a consensus rating of “Hold” and an average price target of $38.22.

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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