The Goodyear Tire & Rubber Company (GT) Stake Lowered by Regentatlantic Capital LLC

Regentatlantic Capital LLC reduced its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 17.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,988 shares of the company’s stock after selling 1,467 shares during the period. Regentatlantic Capital LLC’s holdings in The Goodyear Tire & Rubber were worth $244,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its position in 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 worth $801,980,000 after buying an additional 21,687,034 shares during the period. Hotchkis & Wiley Capital Management LLC increased 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 worth $252,770,000 after buying an additional 3,111,559 shares during the last quarter. FMR LLC increased its position in shares of The Goodyear Tire & Rubber by 173.3% in the first quarter. FMR LLC now owns 3,083,621 shares of the company’s stock worth $111,011,000 after buying an additional 1,955,403 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of The Goodyear Tire & Rubber by 602.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,295,362 shares of the company’s stock worth $46,633,000 after buying an additional 1,110,842 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of The Goodyear Tire & Rubber by 16.1% in the first quarter. Bank of New York Mellon Corp now owns 5,349,243 shares of the company’s stock worth $192,572,000 after buying an additional 742,406 shares during the last quarter. 94.10% of the stock is owned by institutional investors and hedge funds.

The Goodyear Tire & Rubber Company (GT) opened at 29.75 on Friday. The company has a 50-day moving average of $33.47 and a 200 day moving average 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 stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 6.48 and a beta of 1.53.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.70 earnings per share (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 the consensus estimate of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The business’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post $3.10 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be issued 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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A number of equities analysts have recently weighed in on the company. Jefferies Group LLC set a $40.00 target price on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Monday, May 8th. Guggenheim initiated coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price target on the stock. Zacks Investment Research cut shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of The Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub cut shares of The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus 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 on Monday, July 10th. The shares were sold at an average price of $35.46, for a total value of $221,625.00. Following 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 legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 12,789 shares of company stock worth $450,950. 1.40% of the stock is currently owned by insiders.

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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