The Goodyear Tire & Rubber Company (GT) Position Raised by Fiduciary Trust Co.

Fiduciary Trust Co. increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 58.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,927 shares of the company’s stock after purchasing an additional 3,301 shares during the quarter. Fiduciary Trust Co.’s holdings in The Goodyear Tire & Rubber were worth $312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GT. BlackRock Inc. lifted its holdings 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 worth $801,980,000 after acquiring an additional 21,687,034 shares during the last quarter. State Street Corp lifted its holdings 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 worth $457,442,000 after acquiring an additional 287,023 shares during the last quarter. Wellington Management Group LLP lifted its holdings 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 worth $267,678,000 after acquiring an additional 581,628 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings 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 acquiring an additional 3,111,559 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of The Goodyear Tire & Rubber by 4.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,528,543 shares of the company’s stock worth $228,238,000 after acquiring an additional 266,403 shares during the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of the business’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 in the company, valued at approximately $2,547,765.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 6,751 shares of company stock valued at $236,741 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on GT shares. Morgan Stanley raised shares of The Goodyear Tire & Rubber from an “underweight” rating to an “overweight” rating in a report on Thursday, June 1st. Jefferies Group LLC raised shares of The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Tuesday, June 20th. Guggenheim started coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 target price for the company. CLSA started coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 target price for the company. Finally, 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.10.

The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 30.31 on Friday. The Goodyear Tire & Rubber Company has a one year low of $26.82 and a one year high of $37.20. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 6.60 and a beta of 1.54. The company has a 50-day moving average of $31.27 and a 200-day moving average of $34.07.

The Goodyear Tire & Rubber (NASDAQ:GT) last released 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 firm 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 business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. Equities research analysts expect that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.32%. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

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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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