Bowling Portfolio Management LLC Has $2.69 Million Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Bowling Portfolio Management LLC decreased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,047 shares of the company’s stock after selling 193 shares during the period. Bowling Portfolio Management LLC’s holdings in The Goodyear Tire & Rubber were worth $2,694,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Financial Architects Inc increased its position in shares of The Goodyear Tire & Rubber by 101.5% in the first quarter. Financial Architects Inc now owns 3,471 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares during the period. First Quadrant L P CA bought a new position in shares of The Goodyear Tire & Rubber during the second quarter worth about $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. Northwestern Mutual Wealth Management Co. boosted its position in 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 in the last quarter. Finally, Exane Derivatives boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

The Goodyear Tire & Rubber Company (NASDAQ GT) opened at 29.75 on Friday. The company has a market cap of $7.49 billion, a P/E ratio of 6.48 and a beta of 1.53. The firm has a 50-day moving average price of $33.47 and a 200 day moving average price of $34.42. The Goodyear Tire & Rubber Company has a 12 month low of $26.82 and a 12 month high of $37.20.

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 Zacks’ 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 business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The Goodyear Tire & Rubber’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities research analysts predict that The Goodyear Tire & Rubber Company will post $3.10 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be given a $0.10 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.34%. The Goodyear Tire & Rubber’s dividend payout ratio is currently 8.77%.

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Several analysts have recently issued reports on GT shares. Jefferies Group LLC set a $36.00 price objective on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Monday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $46.00 target price (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a research report on Wednesday, August 2nd. BidaskClub downgraded The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) set a $29.00 target price on The Goodyear Tire & Rubber and gave the company a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research downgraded The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.10.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber stock in a transaction 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 directly 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 Securities & Exchange Commission, which is available at this link. Insiders sold 12,789 shares of company stock valued at $450,950 over the last ninety days. Insiders own 1.40% of the company’s stock.

About The Goodyear Tire & Rubber

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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