IFP Advisors Inc decreased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 11.4% during the second quarter, Holdings Channel reports. The fund owned 9,685 shares of the company’s stock after selling 1,252 shares during the period. IFP Advisors Inc’s holdings in The Goodyear Tire & Rubber were worth $339,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Financial Architects Inc increased its stake in The Goodyear Tire & Rubber by 101.5% in the first quarter. Financial Architects Inc now owns 3,471 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares during the last quarter. First Quadrant L P CA bought a new stake in The Goodyear Tire & Rubber during the second quarter worth $130,000. Washington Trust Bank increased its stake in The Goodyear Tire & Rubber by 46.3% in the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after buying an additional 1,230 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in The Goodyear Tire & Rubber by 21.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,077 shares of the company’s stock worth $147,000 after buying an additional 716 shares during the last quarter. Finally, Exane Derivatives increased its stake in The Goodyear Tire & Rubber by 204,800.0% in the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after buying an additional 4,096 shares during the last quarter. Hedge funds and other institutional investors own 94.10% of the company’s stock.

The Goodyear Tire & Rubber Company (GT) opened at 30.30 on Wednesday. The Goodyear Tire & Rubber Company has a one year low of $26.82 and a one year high of $37.20. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 6.60 and a beta of 1.53. The company has a 50-day moving average of $33.87 and a 200-day moving average of $34.50.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. Equities research analysts expect that The Goodyear Tire & Rubber Company will post $3.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio is currently 8.77%.

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A number of equities research analysts have recently weighed in on GT shares. Zacks Investment Research downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Jefferies Group LLC set a $40.00 price target on shares of The Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Monday, May 8th. Morgan Stanley upgraded shares of The Goodyear Tire & Rubber from an “underweight” rating to an “overweight” rating in a research note on Thursday, June 1st. Guggenheim started coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price target on the stock. Finally, CLSA started coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $38.10.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $35.29, for a total value of $220,562.50. Following the completion of the sale, the insider now owns 78,099 shares of the company’s stock, valued at $2,756,113.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

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.

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

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