Meadow Creek Investment Management LLC trimmed its holdings in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 2.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,600 shares of the company’s stock after selling 3,168 shares during the period. Meadow Creek Investment Management LLC’s holdings in Goodyear Tire & Rubber were worth $1,646,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Goodyear Tire & Rubber by 46.9% during the first quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock worth $445,017,000 after buying an additional 7,827,837 shares in the last quarter. Geode Capital Management LLC boosted its stake in Goodyear Tire & Rubber by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 3,515,759 shares of the company’s stock worth $71,647,000 after purchasing an additional 226,311 shares during the period. Newport Trust Co boosted its stake in Goodyear Tire & Rubber by 1.4% in the 2nd quarter. Newport Trust Co now owns 3,293,968 shares of the company’s stock worth $50,398,000 after purchasing an additional 45,990 shares during the period. AJO LP boosted its stake in Goodyear Tire & Rubber by 295.0% in the 1st quarter. AJO LP now owns 2,187,264 shares of the company’s stock worth $39,699,000 after purchasing an additional 1,633,511 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Goodyear Tire & Rubber by 12.1% in the 2nd quarter. Prudential Financial Inc. now owns 2,023,398 shares of the company’s stock worth $30,958,000 after purchasing an additional 218,323 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

A number of equities analysts recently commented on GT shares. Longbow Research raised shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price objective for the company in a research note on Thursday, June 6th. Citigroup cut their target price on shares of Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Morgan Stanley set a $14.00 target price on shares of Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Wednesday, June 26th. KeyCorp initiated coverage on shares of Goodyear Tire & Rubber in a research report on Wednesday, May 22nd. They issued a “sector weight” rating and a $14.93 target price for the company. Finally, Exane BNP Paribas initiated coverage on shares of Goodyear Tire & Rubber in a research report on Friday, August 16th. They issued an “outperform” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus target price of $17.52.

Shares of Goodyear Tire & Rubber stock traded down $0.02 during midday trading on Friday, reaching $14.03. 155,104 shares of the company’s stock traded hands, compared to its average volume of 3,460,787. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 6.05 and a beta of 1.76. The company’s 50 day simple moving average is $12.31 and its 200 day simple moving average is $15.79. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.73 and a current ratio of 1.33. Goodyear Tire & Rubber Co has a 52 week low of $10.74 and a 52 week high of $24.85.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Friday, July 26th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.77 billion. Goodyear Tire & Rubber had a net margin of 3.02% and a return on equity of 7.66%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, equities research analysts predict that Goodyear Tire & Rubber Co will post 1.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.56%. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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

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