United Services Automobile Association grew its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 31.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,227 shares of the company’s stock after purchasing an additional 35,648 shares during the period. United Services Automobile Association owned about 0.06% of Goodyear Tire & Rubber worth $3,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. LSV Asset Management increased its stake in shares of Goodyear Tire & Rubber by 2.1% during the second quarter. LSV Asset Management now owns 11,346,089 shares of the company’s stock valued at $264,250,000 after buying an additional 235,125 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Goodyear Tire & Rubber by 5.3% during the second quarter. Diamond Hill Capital Management Inc. now owns 8,234,533 shares of the company’s stock valued at $191,782,000 after buying an additional 413,565 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Goodyear Tire & Rubber by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,903,172 shares of the company’s stock valued at $160,787,000 after buying an additional 290,006 shares during the period. Sound Shore Management Inc. CT increased its stake in shares of Goodyear Tire & Rubber by 15.5% during the second quarter. Sound Shore Management Inc. CT now owns 5,815,665 shares of the company’s stock valued at $135,447,000 after buying an additional 778,961 shares during the period. Finally, Levin Capital Strategies L.P. increased its stake in shares of Goodyear Tire & Rubber by 199.2% during the second quarter. Levin Capital Strategies L.P. now owns 3,752,409 shares of the company’s stock valued at $87,394,000 after buying an additional 2,498,420 shares during the period. Institutional investors and hedge funds own 86.52% of the company’s stock.

Shares of GT stock opened at $21.63 on Wednesday. Goodyear Tire & Rubber Co has a 1-year low of $20.31 and a 1-year high of $36.07. The stock has a market cap of $5.54 billion, a P/E ratio of 6.93 and a beta of 1.69. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.36.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, July 27th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. Goodyear Tire & Rubber had a return on equity of 14.04% and a net margin of 1.69%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.59%. The ex-dividend date is Wednesday, October 31st. Goodyear Tire & Rubber’s dividend payout ratio is presently 17.95%.

GT has been the topic of a number of recent research reports. Zacks Investment Research downgraded Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Northcoast Research reaffirmed a “buy” rating on shares of Goodyear Tire & Rubber in a research report on Monday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, July 13th. Goldman Sachs Group downgraded Goodyear Tire & Rubber from a “neutral” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, Guggenheim reaffirmed a “hold” rating and set a $21.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, July 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.38.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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