The Goodyear Tire & Rubber Company (NASDAQ:GT) Stake Boosted by LS Investment Advisors LLC

LS Investment Advisors LLC raised its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,046 shares of the company’s stock after buying an additional 694 shares during the period. LS Investment Advisors LLC’s holdings in The Goodyear Tire & Rubber were worth $386,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Grimes & Company Inc. purchased a new position in shares of The Goodyear Tire & Rubber during the second quarter valued at about $5,718,000. 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 valued at $143,000 after buying an additional 4,096 shares in the last quarter. Regent Investment Management LLC increased its position in shares of The Goodyear Tire & Rubber by 51.6% in the second quarter. Regent Investment Management LLC now owns 19,100 shares of the company’s stock valued at $668,000 after buying an additional 6,500 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of The Goodyear Tire & Rubber by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 126,796 shares of the company’s stock valued at $4,433,000 after buying an additional 1,300 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of The Goodyear Tire & Rubber by 291.4% in the second quarter. CENTRAL TRUST Co now owns 6,293 shares of the company’s stock valued at $220,000 after buying an additional 4,685 shares in the last quarter. 94.10% of the stock is currently owned by institutional investors and hedge funds.

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

The Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates 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 business earned $1.16 earnings per share. On average, equities research analysts expect that The Goodyear Tire & Rubber Company will post $3.10 EPS for the current fiscal year.

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

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Several brokerages have recently issued reports on GT. Jefferies Group LLC set a $36.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Monday, August 7th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $46.00 target price (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a research note on Wednesday, August 2nd. Finally, CLSA 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 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The Goodyear Tire & Rubber 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 Goodyear Tire & Rubber stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $35.46, for a total transaction of $221,625.00. Following the completion of the sale, the insider now directly owns 71,849 shares in the company, valued at approximately $2,547,765.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 12,789 shares of company stock valued at $450,950. Company insiders own 1.40% of the company’s stock.

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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