PNC Financial Services Group Inc. lowered its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,278 shares of the company’s stock after selling 316 shares during the quarter. PNC Financial Services Group Inc.’s holdings in The Goodyear Tire & Rubber were worth $2,003,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of The Goodyear Tire & Rubber by 3,674.6% in the 1st quarter. BlackRock Inc. now owns 22,277,221 shares of the company’s stock valued at $801,980,000 after acquiring an additional 21,687,034 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of The Goodyear Tire & Rubber by 79.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 7,021,395 shares of the company’s stock valued at $252,770,000 after acquiring an additional 3,111,559 shares during the last quarter. Sound Shore Management Inc. CT acquired a new stake in shares of The Goodyear Tire & Rubber in the second quarter valued at about $101,396,000. FMR LLC raised its holdings in The Goodyear Tire & Rubber by 173.3% during the first quarter. FMR LLC now owns 3,083,621 shares of the company’s stock worth $111,011,000 after acquiring an additional 1,955,403 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in The Goodyear Tire & Rubber by 602.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,295,362 shares of the company’s stock worth $46,633,000 after acquiring an additional 1,110,842 shares in the last quarter. 90.33% of the stock is owned by hedge funds and other institutional investors.

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

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Several research analysts recently commented on GT shares. Jefferies Group LLC raised The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Tuesday, June 20th. Guggenheim assumed coverage on The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They set a “buy” rating and a $39.00 price target on the stock. CLSA initiated coverage on The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They set a “buy” rating and a $39.00 price target on the stock. Zacks Investment Research cut The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The Goodyear Tire & Rubber has a consensus rating of “Hold” and a consensus target price of $38.22.

Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) opened at 33.57 on Tuesday. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 7.31 and a beta of 1.56. The Goodyear Tire & Rubber Company has a 1-year low of $26.82 and a 1-year high of $37.20. The firm has a 50-day moving average price of $31.28 and a 200 day moving average price of $33.68.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 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 in the prior year, the business earned $1.16 EPS. The Goodyear Tire & Rubber’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, analysts predict that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current fiscal year.

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.

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

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