The Goodyear Tire & Rubber Company (NASDAQ:GT) Stake Increased by APG Asset Management N.V.

APG Asset Management N.V. increased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 649,359 shares of the company’s stock after buying an additional 51,700 shares during the period. APG Asset Management N.V. owned about 0.26% of The Goodyear Tire & Rubber worth $22,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pioneer Investment Management Inc. increased its position in The Goodyear Tire & Rubber by 0.7% in the first quarter. Pioneer Investment Management Inc. now owns 1,448,785 shares of the company’s stock valued at $52,156,000 after buying an additional 10,572 shares during the last quarter. British Columbia Investment Management Corp increased its position in The Goodyear Tire & Rubber by 60.2% in the first quarter. British Columbia Investment Management Corp now owns 272,679 shares of the company’s stock valued at $9,816,000 after buying an additional 102,488 shares during the last quarter. Parkwood LLC increased its position in The Goodyear Tire & Rubber by 19.2% in the first quarter. Parkwood LLC now owns 23,982 shares of the company’s stock valued at $863,000 after buying an additional 3,860 shares during the last quarter. Summit Securities Group LLC increased its position in The Goodyear Tire & Rubber by 890.9% in the first quarter. Summit Securities Group LLC now owns 95,428 shares of the company’s stock valued at $3,435,000 after buying an additional 85,798 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in The Goodyear Tire & Rubber by 19.7% in the first quarter. Mutual of America Capital Management LLC now owns 33,711 shares of the company’s stock valued at $1,214,000 after buying an additional 5,539 shares during the last quarter. Institutional investors own 92.91% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (GT) traded down 0.89% during mid-day trading on Wednesday, reaching $31.20. 3,843,561 shares of the company’s stock traded hands. The Goodyear Tire & Rubber Company has a 12 month low of $26.82 and a 12 month high of $37.20. The firm has a 50 day moving average price of $34.43 and a 200-day moving average price of $34.45. The stock has a market cap of $7.86 billion, a PE ratio of 6.80 and a beta of 1.53.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. On average, analysts predict that The Goodyear Tire & Rubber Company will post $3.11 earnings per share for the current fiscal 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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, July 28th. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

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GT has been the topic of a number of analyst reports. Zacks Investment Research raised shares of The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, April 17th. Morgan Stanley set a $52.00 target price on shares of The Goodyear Tire & Rubber and gave the company a “buy” rating in a research note on Friday, July 28th. ValuEngine cut shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. CLSA initiated 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. Finally, Guggenheim initiated 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 research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.10.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of the business’s 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 sale, the insider now directly owns 71,849 shares of the company’s stock, valued at approximately $2,547,765.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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