The Goodyear Tire & Rubber Company (GT) Holdings Increased by Amalgamated Bank

Amalgamated Bank boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 18.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 50,122 shares of the company’s stock after acquiring an additional 7,704 shares during the period. Amalgamated Bank’s holdings in The Goodyear Tire & Rubber were worth $1,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GT. BlackRock Inc. grew its stake in shares of The Goodyear Tire & Rubber by 3,674.6% during the 1st quarter. BlackRock Inc. now owns 22,277,221 shares of the company’s stock valued at $801,980,000 after buying an additional 21,687,034 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of The Goodyear Tire & Rubber by 79.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 7,021,395 shares of the company’s stock valued at $252,770,000 after acquiring an additional 3,111,559 shares in the last quarter. Sound Shore Management Inc. CT acquired a new position in shares of The Goodyear Tire & Rubber during the 2nd quarter valued at $101,396,000. FMR LLC lifted its holdings in shares of The Goodyear Tire & Rubber by 173.3% during the 1st quarter. FMR LLC now owns 3,083,621 shares of the company’s stock valued at $111,011,000 after acquiring an additional 1,955,403 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of The Goodyear Tire & Rubber by 602.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,295,362 shares of the company’s stock valued at $46,633,000 after acquiring an additional 1,110,842 shares in the last quarter. 90.33% of the stock is owned by institutional investors.

Several research firms recently weighed in on GT. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Deutsche Bank AG lowered shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Friday, July 28th. Morgan Stanley set a $52.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, ValuEngine lowered shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.22.

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Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) opened at 32.08 on Wednesday. The Goodyear Tire & Rubber Company has a 52 week low of $26.82 and a 52 week high of $37.20. The stock has a 50 day moving average of $30.81 and a 200-day moving average of $33.87. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 6.99 and a beta of 1.54.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The Goodyear Tire & Rubber’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. Equities research analysts expect that The Goodyear Tire & Rubber Company will post $3.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, July 28th. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $35.46, for a total transaction of $221,625.00. Following the completion of the transaction, the insider now directly owns 71,849 shares of the company’s stock, valued at approximately $2,547,765.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.44, for a total transaction of $243,300.00. Following the transaction, the insider now directly owns 74,348 shares of the company’s stock, valued at $2,411,849.12. The disclosure for this sale can be found here. Insiders have sold a total of 14,251 shares of company stock valued at $480,041 over the last ninety days. 1.40% of the stock is owned by insiders.

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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