Capital Fund Management S.A. Boosts Holdings in The Goodyear Tire & Rubber Company (GT)

Capital Fund Management S.A. boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2,926.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,486 shares of the company’s stock after purchasing an additional 109,218 shares during the quarter. Capital Fund Management S.A.’s holdings in The Goodyear Tire & Rubber were worth $3,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GT. Janney Montgomery Scott LLC raised its holdings in The Goodyear Tire & Rubber by 26.6% in the first quarter. Janney Montgomery Scott LLC now owns 11,849 shares of the company’s stock worth $427,000 after purchasing an additional 2,487 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in The Goodyear Tire & Rubber by 1,290.9% in the first quarter. Canada Pension Plan Investment Board now owns 30,600 shares of the company’s stock worth $1,102,000 after purchasing an additional 28,400 shares in the last quarter. American Century Companies Inc. raised its holdings in The Goodyear Tire & Rubber by 8.9% in the first quarter. American Century Companies Inc. now owns 116,462 shares of the company’s stock worth $4,193,000 after purchasing an additional 9,493 shares in the last quarter. Suntrust Banks Inc. raised its holdings in The Goodyear Tire & Rubber by 51.9% in the first quarter. Suntrust Banks Inc. now owns 10,773 shares of the company’s stock worth $387,000 after purchasing an additional 3,679 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in The Goodyear Tire & Rubber by 0.9% in the first quarter. Pictet Asset Management Ltd. now owns 138,541 shares of the company’s stock worth $4,987,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

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The Goodyear Tire & Rubber Company (NASDAQ GT) opened at 32.63 on Wednesday. The stock has a market capitalization of $8.22 billion, a PE ratio of 7.11 and a beta of 1.54. The firm has a 50-day moving average price of $31.16 and a 200 day moving average price of $34.01. The Goodyear Tire & Rubber Company has a 12 month low of $26.82 and a 12 month high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. Equities analysts anticipate that The Goodyear Tire & Rubber Company will post $3.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st were paid 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 dividend yield of 1.23%. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $35.46, for a total value of $221,625.00. Following the sale, the insider now owns 71,849 shares in the company, valued at $2,547,765.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 6,751 shares of company stock worth $236,741 in the last 90 days. Company insiders own 1.40% of the company’s stock.

A number of equities analysts have issued reports on the company. Jefferies Group LLC set a $36.00 price objective on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Monday, August 7th. BidaskClub downgraded The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. 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 restated an “overweight” rating and set a $46.00 price target (down from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. Finally, CLSA assumed coverage on The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They set a “buy” rating and a $39.00 price target for the company. Two investment 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’s stock. The stock currently has an average rating of “Hold” and an average price target of $38.10.

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.

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Institutional Ownership by Quarter for The Goodyear Tire & Rubber (NASDAQ:GT)

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