Hammer Asset Management LLC increased its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 88.0% during the second quarter, Holdings Channel.com reports. The fund owned 149,808 shares of the company’s stock after buying an additional 70,122 shares during the period. Goodyear Tire & Rubber makes up about 1.9% of Hammer Asset Management LLC’s portfolio, making the stock its 24th biggest position. Hammer Asset Management LLC’s holdings in Goodyear Tire & Rubber were worth $2,292,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Investors Research Corp acquired a new position in Goodyear Tire & Rubber in the first quarter valued at approximately $25,000. Quadrant Capital Group LLC raised its position in shares of Goodyear Tire & Rubber by 1,678.5% during the first quarter. Quadrant Capital Group LLC now owns 2,650 shares of the company’s stock worth $47,000 after purchasing an additional 2,501 shares during the period. Advisory Services Network LLC raised its position in shares of Goodyear Tire & Rubber by 46.3% during the first quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock worth $94,000 after purchasing an additional 1,645 shares during the period. Employers Holdings Inc. acquired a new position in shares of Goodyear Tire & Rubber during the second quarter worth approximately $106,000. Finally, Fox Run Management L.L.C. bought a new stake in Goodyear Tire & Rubber during the second quarter worth $196,000. 80.07% of the stock is currently owned by institutional investors.

Shares of Goodyear Tire & Rubber stock traded up $0.18 during trading on Thursday, hitting $11.82. 93,835 shares of the stock traded hands, compared to its average volume of 4,627,745. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 5.10 and a beta of 1.71. The firm’s fifty day moving average is $13.63 and its 200-day moving average is $16.59. Goodyear Tire & Rubber Co has a 52 week low of $10.97 and a 52 week high of $24.85.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. Goodyear Tire & Rubber’s revenue was down 5.4% compared to the same quarter last year. On average, analysts forecast that Goodyear Tire & Rubber Co will post 1.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.64 annualized dividend and a yield of 5.41%. Goodyear Tire & Rubber’s payout ratio is 27.59%.

Several equities research analysts recently issued reports on GT shares. Citigroup decreased their price target on Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. BNP Paribas began coverage on Goodyear Tire & Rubber in a report on Friday, August 16th. They set an “outperform” rating and a $10.00 price objective on the stock. Zacks Investment Research raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. ValuEngine lowered Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 9th. Finally, Exane BNP Paribas began coverage on Goodyear Tire & Rubber in a research report on Friday, August 16th. They set an “outperform” rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.07.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company 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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