Markel Corp acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $665,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Thrivent Financial For Lutherans increased its position in The Goodyear Tire & Rubber by 1.5% during the first quarter. Thrivent Financial For Lutherans now owns 9,280 shares of the company’s stock worth $334,000 after acquiring an additional 140 shares during the period. Morgan Stanley increased its position in The Goodyear Tire & Rubber by 26.6% during the first quarter. Morgan Stanley now owns 1,010,777 shares of the company’s stock worth $36,388,000 after acquiring an additional 212,668 shares during the period. Renaissance Technologies LLC bought a new position in The Goodyear Tire & Rubber during the first quarter worth about $11,398,000. Oppenheimer Asset Management Inc. bought a new position in The Goodyear Tire & Rubber during the first quarter worth about $305,000. Finally, Credit Suisse AG increased its position in The Goodyear Tire & Rubber by 8.5% during the first quarter. Credit Suisse AG now owns 384,181 shares of the company’s stock worth $13,830,000 after acquiring an additional 30,091 shares during the period. 90.02% of the stock is currently owned by institutional investors.

In related news, insider Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $33.26, for a total value of $249,450.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 15,501 shares of company stock worth $507,866. 1.40% of the stock is owned by company insiders.

Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) traded down 1.596% during midday trading on Tuesday, reaching $30.525. 2,028,530 shares of the company’s stock were exchanged. The Goodyear Tire & Rubber Company has a 12 month low of $26.82 and a 12 month high of $37.20. The company has a market cap of $7.69 billion, a P/E ratio of 6.650 and a beta of 1.56. The firm has a 50 day moving average price of $32.92 and a 200 day moving average price of $33.32.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that The Goodyear Tire & Rubber Company will post $3.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.80%. This is a boost from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, October 31st. The Goodyear Tire & Rubber’s dividend payout ratio is 10.34%.

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GT has been the topic of a number of recent research reports. Morgan Stanley reaffirmed a “buy” rating and set a $46.00 price target on shares of The Goodyear Tire & Rubber in a research report on Monday, September 11th. Deutsche Bank AG downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Friday, July 28th. KeyCorp reiterated a “buy” rating and set a $37.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. BidaskClub downgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC set a $39.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Saturday, July 29th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The Goodyear Tire & Rubber has an average rating of “Buy” and a consensus target price of $37.55.

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

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