People s United Financial Inc. decreased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 74,497 shares of the company’s stock after selling 2,058 shares during the period. People s United Financial Inc.’s holdings in The Goodyear Tire & Rubber were worth $2,605,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Allied Advisory Services Inc. raised its stake in shares of The Goodyear Tire & Rubber by 1.5% during the 2nd quarter. First Allied Advisory Services Inc. now owns 27,320 shares of the company’s stock worth $949,000 after purchasing an additional 400 shares in the last quarter. HighVista Strategies LLC bought a new stake in shares of The Goodyear Tire & Rubber during the 2nd quarter worth approximately $465,000. Precocity Capital LP bought a new stake in shares of The Goodyear Tire & Rubber during the 2nd quarter worth approximately $5,244,000. Worth Venture Partners LLC raised its stake in shares of The Goodyear Tire & Rubber by 49.7% during the 2nd quarter. Worth Venture Partners LLC now owns 26,200 shares of the company’s stock worth $916,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Bancorpsouth Inc. bought a new stake in shares of The Goodyear Tire & Rubber during the 2nd quarter worth approximately $1,573,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.

The Goodyear Tire & Rubber Company (NASDAQ:GT) traded up 0.57% during trading on Friday, reaching $33.25. The company’s stock had a trading volume of 2,432,432 shares. The company has a market cap of $8.37 billion, a PE ratio of 7.24 and a beta of 1.54. The Goodyear Tire & Rubber Company has a 52-week low of $26.82 and a 52-week high of $37.20. The stock has a 50-day moving average price of $30.81 and a 200 day moving average price of $33.87.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly 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 Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the firm earned $1.16 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, analysts expect that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 8.77%.

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In other news, insider Stephen R. Mcclellan sold 6,250 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $35.46, for a total value of $221,625.00. Following the completion of the sale, the insider now owns 71,849 shares of the company’s stock, valued at approximately $2,547,765.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.44, for a total value of $243,300.00. Following the completion of the sale, the insider now directly owns 74,348 shares of the company’s stock, valued at approximately $2,411,849.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,251 shares of company stock valued at $480,041. Corporate insiders own 1.40% of the company’s stock.

A number of equities research analysts have recently issued reports on GT shares. BidaskClub upgraded The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Morgan Stanley reissued a “buy” rating and set a $46.00 target price on shares of The Goodyear Tire & Rubber in a report on Monday, September 11th. ValuEngine lowered The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC raised The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The Goodyear Tire & Rubber has a consensus rating of “Hold” and an average price target of $38.22.

The Goodyear Tire & Rubber 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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