Monarch Partners Asset Management LLC lowered its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 45.3% during the second quarter, Holdings Channel reports. The firm owned 174,820 shares of the company’s stock after selling 144,685 shares during the period. Monarch Partners Asset Management LLC’s holdings in The Goodyear Tire & Rubber were worth $6,112,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Financial Architects Inc raised its stake in shares of 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 buying an additional 75 shares in the last quarter. First Quadrant L P CA acquired a new stake in shares of The Goodyear Tire & Rubber during the second quarter valued at approximately $130,000. Washington Trust Bank raised its stake 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 in the last quarter. Exane Derivatives raised its stake 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 valued at $147,000 after buying an additional 716 shares in the last quarter. 92.91% of the stock is currently owned by institutional investors and hedge funds.

The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 30.27 on Friday. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 6.59 and a beta of 1.53. The Goodyear Tire & Rubber Company has a 52 week low of $26.82 and a 52 week high of $37.20. The company has a 50-day moving average price of $34.08 and a 200-day moving average price of $34.47.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. Equities research analysts anticipate that The Goodyear Tire & Rubber Company will post $3.11 EPS for the current year.

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

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Several brokerages have recently commented on GT. Jefferies Group LLC set a $36.00 price objective on The Goodyear Tire & Rubber and gave the company a “buy” rating in a report on Monday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $46.00 price objective (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. BidaskClub lowered The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a 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 report on Tuesday, August 1st. Finally, Zacks Investment Research lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.10.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $35.29, for a total transaction of $220,562.50. Following the completion of the transaction, the insider now owns 78,099 shares in the company, valued at $2,756,113.71. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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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