Parametric Portfolio Associates LLC cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,182,952 shares of the company’s stock after selling 87,042 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.48% of The Goodyear Tire & Rubber worth $39,333,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings 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 valued at $152,000 after acquiring an additional 2,682 shares during the period. Shell Asset Management Co. grew its stake in The Goodyear Tire & Rubber by 100.3% during the 3rd quarter. Shell Asset Management Co. now owns 98,801 shares of the company’s stock worth $2,231,000 after buying an additional 49,484 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in The Goodyear Tire & Rubber by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,228,322 shares of the company’s stock worth $42,943,000 after buying an additional 62,499 shares during the last quarter. Prudential Financial Inc. grew its stake in The Goodyear Tire & Rubber by 47.0% during the 2nd quarter. Prudential Financial Inc. now owns 976,079 shares of the company’s stock worth $34,124,000 after buying an additional 312,298 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in The Goodyear Tire & Rubber by 44.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 159,759 shares of the company’s stock worth $5,312,000 after buying an additional 49,500 shares during the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (GT) opened at $32.57 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.37. The firm has a market capitalization of $7,985.92, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.91 and a beta of 1.52. The Goodyear Tire & Rubber Company has a one year low of $28.81 and a one year high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted 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 business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 EPS. equities research analysts forecast that The Goodyear Tire & Rubber Company will post 2.88 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, October 31st. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s payout ratio is presently 14.47%.

Several research analysts recently weighed in on GT shares. Morgan Stanley restated a “buy” rating and set a $46.00 target price on shares of The Goodyear Tire & Rubber in a research note on Monday, September 11th. KeyCorp restated a “buy” rating and set a $37.00 target price on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. Jefferies Group restated a “buy” rating and set a $36.00 target price on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. Zacks Investment Research upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 target price on the stock in a research note on Monday, October 9th. Finally, BidaskClub upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.70.

In other The Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $30.53, for a total transaction of $228,975.00. Following the sale, the senior vice president now owns 59,348 shares in the company, valued at approximately $1,811,894.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 22,500 shares of company stock worth $719,325. Company insiders own 1.40% of the company’s stock.

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The Goodyear Tire & Rubber 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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