Fruth Investment Management Has $811,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Fruth Investment Management reduced its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,200 shares of the company’s stock after selling 100 shares during the period. Fruth Investment Management’s holdings in The Goodyear Tire & Rubber were worth $811,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of The Goodyear Tire & Rubber by 3,674.6% in the first quarter. BlackRock Inc. now owns 22,277,221 shares of the company’s stock valued at $801,980,000 after buying an additional 21,687,034 shares during the last quarter. State Street Corp raised its position in shares of The Goodyear Tire & Rubber by 2.3% in the first quarter. State Street Corp now owns 12,706,654 shares of the company’s stock valued at $457,442,000 after buying an additional 287,023 shares during the last quarter. LSV Asset Management raised its position in shares of The Goodyear Tire & Rubber by 1.1% in the first quarter. LSV Asset Management now owns 9,595,182 shares of the company’s stock valued at $345,426,000 after buying an additional 101,914 shares during the last quarter. Wellington Management Group LLP raised its position in shares of The Goodyear Tire & Rubber by 8.5% in the first quarter. Wellington Management Group LLP now owns 7,435,492 shares of the company’s stock valued at $267,678,000 after buying an additional 581,628 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised 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 buying an additional 3,111,559 shares during the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.

The Goodyear Tire & Rubber Company (NASDAQ GT) traded down 0.53% during trading on Friday, reaching $30.27. 1,891,783 shares of the company were exchanged. The Goodyear Tire & Rubber Company has a one year low of $26.82 and a one year high of $37.20. The firm’s 50 day moving average price is $34.08 and its 200-day moving average price is $34.47. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 6.59 and a beta of 1.53.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data 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 company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post $3.11 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be given a $0.10 dividend. 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 (DPR) is 8.77%.

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Several equities analysts have recently weighed in on GT shares. BidaskClub lowered 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 report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price objective on the stock. Zacks Investment Research lowered shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report 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 price objective on the stock in a research report on Tuesday, June 20th. Finally, CLSA started coverage on shares of The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.10.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction that occurred on 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 $2,547,765.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by corporate 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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