The Pillar Pacific Capital Management LLC Has $3.95 Million Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

The Pillar Pacific Capital Management LLC Has $3.95 Million Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Financial Architects Inc increased its stake in The Goodyear Tire & Rubber by 2.2% in the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after buying an additional 75 shares during the last quarter. First Quadrant L P CA purchased a new stake in The Goodyear Tire & Rubber during the second quarter worth approximately $130,000. Washington Trust Bank increased its stake in The Goodyear Tire & Rubber by 46.3% in the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after buying an additional 1,230 shares during the last quarter. Exane Derivatives increased its stake in The Goodyear Tire & Rubber by 204,800.0% in the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after buying an additional 4,096 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in The Goodyear Tire & Rubber by 21.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,077 shares of the company’s stock worth $147,000 after buying an additional 716 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Pillar Pacific Capital Management LLC raised its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 112,995 shares of the company’s stock after buying an additional 590 shares during the period. Pillar Pacific Capital Management LLC’s holdings in The Goodyear Tire & Rubber were worth $3,950,000 at the end of the most recent reporting period.

The Goodyear Tire & Rubber Company (GT) opened at 31.48 on Wednesday. The stock has a market capitalization of $7.93 billion, a PE ratio of 6.86 and a beta of 1.54. The firm has a 50-day moving average of $34.76 and a 200-day moving average of $34.52. The Goodyear Tire & Rubber Company has a 52-week low of $26.82 and a 52-week high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last released 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 business had revenue of $3.69 billion for 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 firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post $3.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. The Goodyear Tire & Rubber’s dividend payout ratio is currently 8.77%.

GT has been the subject of several recent research reports. Deutsche Bank AG downgraded The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Friday, July 28th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on The Goodyear Tire & Rubber and gave the company a “hold” rating in a report on Tuesday. BidaskClub upgraded The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Morgan Stanley upgraded The Goodyear Tire & Rubber from an “underweight” rating to an “overweight” rating in a report on Thursday, June 1st. Finally, Zacks Investment Research downgraded The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $39.00.

In related 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 transaction, the insider now owns 71,849 shares in the company, valued at approximately $2,547,765.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 18,750 shares of company stock worth $662,938 in the last 90 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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