Financial Counselors Inc. Has $3.14 Million Holdings in The Goodyear Tire & Rubber Company (GT)

Financial Counselors Inc. cut its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 25.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,763 shares of the company’s stock after selling 29,924 shares during the period. Financial Counselors Inc.’s holdings in The Goodyear Tire & Rubber were worth $3,138,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GT. Aberdeen Asset Management PLC UK raised its position in The Goodyear Tire & Rubber by 25.0% during the second quarter. Aberdeen Asset Management PLC UK now owns 88,852 shares of the company’s stock valued at $3,106,000 after purchasing an additional 17,758 shares during the period. Tredje AP fonden raised its position in The Goodyear Tire & Rubber by 8.8% during the second quarter. Tredje AP fonden now owns 47,290 shares of the company’s stock valued at $1,653,000 after purchasing an additional 3,824 shares during the period. Schroder Investment Management Group purchased a new stake in The Goodyear Tire & Rubber during the second quarter valued at approximately $160,000. LSV Asset Management raised its position in The Goodyear Tire & Rubber by 6.6% during the second quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock valued at $357,644,000 after purchasing an additional 634,919 shares during the period. Finally, Fiduciary Trust Co. raised its position in The Goodyear Tire & Rubber by 58.7% during the second quarter. Fiduciary Trust Co. now owns 8,927 shares of the company’s stock valued at $312,000 after purchasing an additional 3,301 shares during the period. 90.34% of the stock is owned by institutional investors.

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

Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) traded up 0.56% during mid-day trading on Friday, reaching $32.43. The company’s stock had a trading volume of 2,968,935 shares. The stock has a 50 day moving average of $30.80 and a 200-day moving average of $33.94. The stock has a market cap of $8.16 billion, a P/E ratio of 7.07 and a beta of 1.54. The Goodyear Tire & Rubber Company has a one year low of $26.82 and a one year high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 return on equity of 18.94% and a net margin of 7.95%. The Goodyear Tire & Rubber’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. On average, equities research analysts expect that The Goodyear Tire & Rubber Company will post $3.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, July 28th. The Goodyear Tire & Rubber’s payout ratio is currently 8.77%.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the business’s stock in a transaction dated 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 owns 71,849 shares of the company’s stock, valued at approximately $2,547,765.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 6,751 shares of company stock valued at $236,741 in the last three months. 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.

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

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