Alpha Windward LLC raised its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,219 shares of the company’s stock after buying an additional 816 shares during the period. Alpha Windward LLC’s holdings in The Goodyear Tire & Rubber were worth $532,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in GT. Financial Architects Inc raised 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 valued at $125,000 after buying an additional 1,748 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 valued at $147,000 after buying an additional 716 shares during the period. Exane Derivatives raised 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 during the period. Global X Management Co. LLC raised its position in shares of The Goodyear Tire & Rubber by 30.4% in the first quarter. Global X Management Co. LLC now owns 4,936 shares of the company’s stock valued at $178,000 after buying an additional 1,150 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of The Goodyear Tire & Rubber by 3.2% in the first quarter. Pacer Advisors Inc. now owns 5,426 shares of the company’s stock valued at $195,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.
The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 31.20 on Friday. The Goodyear Tire & Rubber Company has a 52-week low of $26.82 and a 52-week high of $37.20. The company has a 50 day moving average price of $34.76 and a 200 day moving average price of $34.52. The firm has a market capitalization of $7.86 billion, a P/E ratio of 6.80 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 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. The Goodyear Tire & Rubber’s revenue was down 5.0% compared to the same quarter last year. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post $3.19 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 $0.10 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. The Goodyear Tire & Rubber’s dividend payout ratio is presently 8.77%.
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A number of analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) set a $29.00 price target on The Goodyear Tire & Rubber and gave the company a “hold” rating in a report on Tuesday, August 1st. BidaskClub lowered The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $46.00 price target (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday. Jefferies Group LLC set a $39.00 price target on The Goodyear Tire & Rubber and gave the company a “buy” rating in a report on Saturday, July 29th. Finally, Zacks Investment Research lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.40.
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 Friday, June 9th. The shares were sold at an average price of $35.29, for a total value of $220,562.50. Following the transaction, the insider now directly owns 78,099 shares in the company, valued at $2,756,113.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 18,750 shares of company stock worth $662,938. 1.40% of the stock is currently owned by company insiders.
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.
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