Arizona State Retirement System Has $2.18 Million Position in The Goodyear Tire & Rubber Company (GT)

Arizona State Retirement System increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,479 shares of the company’s stock after buying an additional 200 shares during the period. Arizona State Retirement System’s holdings in The Goodyear Tire & Rubber were worth $2,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Financial Architects Inc boosted its stake in The Goodyear Tire & Rubber by 101.5% in the first quarter. Financial Architects Inc now owns 3,471 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares in the last quarter. Janney Capital Management LLC purchased a new stake in The Goodyear Tire & Rubber during the first quarter worth approximately $229,000. Janney Montgomery Scott LLC boosted its stake 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 buying an additional 2,487 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in The Goodyear Tire & Rubber by 21.2% in the first quarter. Clear Harbor Asset Management LLC now owns 62,920 shares of the company’s stock worth $2,265,000 after buying an additional 11,000 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in The Goodyear Tire & Rubber by 4.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,962 shares of the company’s stock worth $234,000 after buying an additional 286 shares in the last quarter. 94.10% of the stock is currently owned by institutional investors.

The Goodyear Tire & Rubber Company (GT) opened at 29.75 on Monday. The firm’s 50-day moving average price is $33.47 and its 200-day moving average price is $34.42. 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 $7.49 billion, a PE ratio of 6.48 and a beta of 1.53.

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 consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the firm posted $1.16 earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Equities research analysts forecast that The Goodyear Tire & Rubber Company will post $3.10 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 8.77%.

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A number of analysts recently commented on GT shares. BidaskClub cut shares of The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Guggenheim started coverage on shares of The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price objective for the company. Zacks Investment Research cut shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC upgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, June 20th. Finally, CLSA started coverage on shares of The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They issued a “buy” rating and a $39.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.10.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber stock in a transaction on Monday, July 10th. The shares were sold at an average price of $35.46, for a total value of $221,625.00. Following the completion of the sale, the insider now directly owns 71,849 shares of the company’s stock, valued at $2,547,765.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 12,789 shares of company stock valued at $450,950. Insiders own 1.40% of the company’s stock.

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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