Legal & General Group Plc increased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,349,022 shares of the company’s stock after buying an additional 20,952 shares during the period. Legal & General Group Plc owned about 0.54% of The Goodyear Tire & Rubber worth $47,164,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Financial Architects Inc increased its position 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 bought a new position in shares of The Goodyear Tire & Rubber during the second quarter worth $130,000. Washington Trust Bank increased its position 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 worth $136,000 after buying an additional 1,230 shares during the period. Exane Derivatives increased its position 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 worth $143,000 after buying an additional 4,096 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position 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 worth $147,000 after buying an additional 716 shares during the period. Institutional investors own 90.32% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (GT) opened at 30.32 on Tuesday. The firm has a market capitalization of $7.63 billion, a PE ratio of 6.61 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 firm’s 50-day moving average is $32.80 and its 200 day moving average is $34.34.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. 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 company’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post $3.04 earnings per share for the current year.

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

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GT has been the topic of several recent research reports. BidaskClub downgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. 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 objective for the company. Zacks Investment Research cut shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Jefferies Group LLC raised shares of The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday, June 20th. Finally, CLSA initiated coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They set a “buy” rating and a $39.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.10.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of the stock in a transaction dated 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 directly owns 78,099 shares of the company’s stock, valued at approximately $2,756,113.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 13,001 shares of company stock valued at $457,304. 1.40% of the stock is currently owned by company 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.

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

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