The Goodyear Tire & Rubber Company (GT) Shares Bought by Thrivent Financial For Lutherans

Thrivent Financial For Lutherans boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,560 shares of the company’s stock after purchasing an additional 280 shares during the quarter. Thrivent Financial For Lutherans’ holdings in The Goodyear Tire & Rubber were worth $334,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GT. LSV Asset Management raised its stake in shares of The Goodyear Tire & Rubber by 6.6% in the 2nd quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock valued at $357,644,000 after buying an additional 634,919 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of The Goodyear Tire & Rubber by 4.3% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,528,543 shares of the company’s stock valued at $228,238,000 after buying an additional 266,403 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of The Goodyear Tire & Rubber by 15.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,202,190 shares of the company’s stock valued at $216,826,000 after buying an additional 852,947 shares in the last quarter. Evercore Trust Company N.A. raised its stake in shares of The Goodyear Tire & Rubber by 2.2% in the 2nd quarter. Evercore Trust Company N.A. now owns 3,253,477 shares of the company’s stock valued at $113,742,000 after buying an additional 70,480 shares in the last quarter. Finally, FMR LLC raised its stake in shares of The Goodyear Tire & Rubber by 173.3% in the 1st quarter. FMR LLC now owns 3,083,621 shares of the company’s stock valued at $111,011,000 after buying an additional 1,955,403 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. BidaskClub raised shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine lowered shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Deutsche Bank AG lowered shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Friday, July 28th. Finally, Morgan Stanley set a $52.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.00.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction dated Monday, October 2nd. The stock was 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 accessible through this link. In the last ninety days, insiders sold 15,501 shares of company stock valued at $507,866. 1.40% of the stock is owned by insiders.

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 33.94 on Friday. 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 $8.54 billion, a price-to-earnings ratio of 7.39 and a beta of 1.56. The stock has a 50 day moving average of $32.52 and a 200 day moving average of $33.42.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post $3.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is 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 8.77%.

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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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