The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Bought by Janney Capital Management LLC

Janney Capital Management LLC raised its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,946 shares of the company’s stock after buying an additional 569 shares during the period. Janney Capital Management LLC’s holdings in The Goodyear Tire & Rubber were worth $242,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in shares of The Goodyear Tire & Rubber by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,140 shares of the company’s stock valued at $282,000 after buying an additional 510 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of The Goodyear Tire & Rubber during the fourth quarter valued at approximately $585,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of The Goodyear Tire & Rubber during the fourth quarter valued at approximately $261,000. Macquarie Group Ltd. increased its stake in shares of The Goodyear Tire & Rubber by 51.9% in the fourth quarter. Macquarie Group Ltd. now owns 98,450 shares of the company’s stock valued at $3,039,000 after buying an additional 33,650 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its stake in shares of The Goodyear Tire & Rubber by 24.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 159,211 shares of the company’s stock valued at $5,732,000 after buying an additional 31,553 shares during the last quarter. 92.91% of the stock is owned by institutional investors and hedge funds.

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) traded down 0.53% on Friday, reaching $30.27. 1,891,783 shares of the company traded hands. 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 capitalization of $7.62 billion, a PE ratio of 6.59 and a beta of 1.53. The firm has a 50-day moving average price of $34.08 and a 200 day moving average price of $34.47.

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 Zacks’ consensus estimate of $0.75 by $0.05. The business had revenue of $3.69 billion for 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 for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 EPS. Equities analysts forecast that The Goodyear Tire & Rubber Company will post $3.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be paid a dividend of $0.10 per share. 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 1.32%. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 8.77%.

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Several equities research analysts have commented on the stock. Deutsche Bank AG downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Friday, July 28th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on shares of The Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Tuesday, August 1st. Morgan Stanley reissued an “overweight” rating and set a $46.00 price objective (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a research report on Wednesday, August 2nd. Jefferies Group LLC set a $36.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, BidaskClub raised shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average 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 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 completion of the sale, the insider now owns 71,849 shares in the company, valued at approximately $2,547,765.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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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