Oregon Public Employees Retirement Fund raised its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,796 shares of the company’s stock after buying an additional 1,300 shares during the period. Oregon Public Employees Retirement Fund owned about 0.05% of The Goodyear Tire & Rubber worth $4,433,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Financial Architects Inc raised its stake 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 stake 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. Global X Management Co. LLC raised its stake 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. Pacer Advisors Inc. raised its stake 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. Finally, Dai Ichi Life Insurance Company Ltd purchased a new stake in shares of The Goodyear Tire & Rubber during the first quarter valued at approximately $200,000. 94.10% of the stock is currently owned by institutional investors and hedge funds.
The Goodyear Tire & Rubber Company (GT) traded down 0.03% during trading on Wednesday, reaching $30.29. 2,015,022 shares of the company’s stock were exchanged. The company’s 50-day moving average is $33.75 and its 200-day moving average is $34.47. The Goodyear Tire & Rubber Company has a 1-year low of $26.82 and a 1-year high of $37.20. The company has a market capitalization of $7.63 billion, a PE ratio of 6.60 and a beta of 1.53.
The Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing the 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 revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. Equities research analysts expect that The Goodyear Tire & Rubber Company will post $3.11 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 given a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.40 annualized dividend and a yield of 1.32%. The Goodyear Tire & Rubber’s dividend payout ratio is 8.77%.
Several research analysts recently issued reports on the company. Deutsche Bank AG downgraded The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Friday, July 28th. 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. Morgan Stanley reiterated an “overweight” rating and issued a $46.00 price target (down from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. Jefferies Group LLC set a $36.00 price target on The Goodyear Tire & Rubber and gave the company a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company currently 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 firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.
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