Bank of New York Mellon Corp cut its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,840,986 shares of the company’s stock after selling 361,204 shares during the quarter. Bank of New York Mellon Corp owned 2.37% of The Goodyear Tire & Rubber worth $194,214,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Financial Architects Inc boosted 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 worth $124,000 after acquiring an additional 75 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of The Goodyear Tire & Rubber in the second quarter worth approximately $130,000. Washington Trust Bank boosted 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 worth $136,000 after acquiring an additional 1,230 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of The Goodyear Tire & Rubber by 143.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after acquiring an additional 2,682 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of The Goodyear Tire & Rubber in the second quarter worth approximately $160,000. Institutional investors and hedge funds own 93.87% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. ValuEngine lowered The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Morgan Stanley set a $52.00 price target on The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Friday, July 28th. Deutsche Bank AG lowered The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Friday, July 28th. Finally, Jefferies Group LLC set a $39.00 price target on The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Saturday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The Goodyear Tire & Rubber currently has an average rating of “Hold” and an average price target of $37.55.

Shares of The Goodyear Tire & Rubber Company (GT) opened at $29.94 on Monday. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.12. The Goodyear Tire & Rubber Company has a 1-year low of $28.81 and a 1-year high of $37.20. The firm has a market capitalization of $7,380.00, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.84 and a beta of 1.51.

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, beating analysts’ consensus estimates of $0.67 by $0.03. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. equities analysts expect that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be given a $0.14 dividend. The ex-dividend date is Tuesday, October 31st. This is a boost from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.87%. The Goodyear Tire & Rubber’s dividend payout ratio is 14.47%.

In related news, insider Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 22,712 shares of company stock valued at $728,079. Insiders own 1.40% of the company’s stock.

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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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