JPMorgan Chase & Co. decreased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 80.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 401,817 shares of the company’s stock after selling 1,661,456 shares during the quarter. JPMorgan Chase & Co. owned 0.16% of The Goodyear Tire & Rubber worth $13,284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc lifted its position in The Goodyear Tire & Rubber by 6.5% in the 3rd quarter. Legal & General Group Plc now owns 1,436,702 shares of the company’s stock valued at $47,767,000 after acquiring an additional 87,680 shares in the last quarter. BBT Capital Management LLC purchased a new stake in The Goodyear Tire & Rubber in the 3rd quarter valued at about $6,650,000. MUFG Securities EMEA plc purchased a new stake in The Goodyear Tire & Rubber in the 3rd quarter valued at about $15,827,000. Olstein Capital Management L.P. increased its stake in The Goodyear Tire & Rubber by 35.9% in the 3rd quarter. Olstein Capital Management L.P. now owns 227,000 shares of the company’s stock valued at $7,548,000 after buying an additional 60,000 shares during the last quarter. Finally, Norinchukin Bank The increased its stake in The Goodyear Tire & Rubber by 3.3% in the 3rd quarter. Norinchukin Bank The now owns 68,197 shares of the company’s stock valued at $2,268,000 after buying an additional 2,182 shares during the last quarter. 94.64% of the stock is currently owned by institutional investors and hedge funds.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $33.26, for a total value of $249,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 22,500 shares of company stock valued at $719,325. Insiders own 1.40% of the company’s stock.

The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at $32.42 on Thursday. The company has a market cap of $7,877.54, a P/E ratio of 10.32, a P/E/G ratio of 0.89 and a beta of 1.52. The Goodyear Tire & Rubber Company has a fifty-two week low of $28.81 and a fifty-two week high of $37.20. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, October 27th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The Goodyear Tire & Rubber’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. analysts predict that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.73%. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, October 31st. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 14.47%.

Several research firms have commented on GT. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. KeyCorp reiterated a “buy” rating and issued a $37.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. Jefferies Group reiterated a “buy” rating and issued a $36.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 price objective for the company in a research note on Monday, October 9th. Finally, J P Morgan Chase & Co decreased their price objective on shares of The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.70.

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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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