Anchor Bolt Capital LP cut its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 65.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 670,630 shares of the company’s stock after selling 1,273,664 shares during the period. Anchor Bolt Capital LP owned about 0.27% of The Goodyear Tire & Rubber worth $22,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of The Goodyear Tire & Rubber by 143.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after purchasing an additional 2,682 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of The Goodyear Tire & Rubber in the 2nd quarter worth $160,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of The Goodyear Tire & Rubber in the 3rd quarter worth $205,000. Pacer Advisors Inc. increased its stake in shares of The Goodyear Tire & Rubber by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 5,883 shares of the company’s stock worth $206,000 after purchasing an additional 457 shares in the last quarter. Finally, Westover Capital Advisors LLC increased its stake in shares of The Goodyear Tire & Rubber by 5.7% in the 2nd quarter. Westover Capital Advisors LLC now owns 6,139 shares of the company’s stock worth $215,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

In related news, SVP Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $30.53, for a total value of $228,975.00. Following the completion of the transaction, the senior vice president now owns 59,348 shares of the company’s stock, valued at approximately $1,811,894.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 30,000 shares of company stock valued at $962,625 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Several research firms have recently commented on GT. J P Morgan Chase & Co reduced their price objective on The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. BidaskClub upgraded The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Zacks Investment Research lowered The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. ValuEngine upgraded The Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Finally, Morgan Stanley restated a “buy” rating and issued a $46.00 price objective on shares of The Goodyear Tire & Rubber in a research note on Monday, September 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.70.

The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at $31.36 on Thursday. The firm has a market cap of $7,936.66, a price-to-earnings ratio of 10.39, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.12. The Goodyear Tire & Rubber Company has a 1-year low of $28.81 and a 1-year high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Friday, October 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The Goodyear Tire & Rubber’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. analysts expect that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 1st were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.56 annualized dividend and a yield of 1.79%. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s dividend payout ratio is currently 14.47%.

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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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