The Goodyear Tire & Rubber Company (NASDAQ:GT) Position Held by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan maintained its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the second quarter, Holdings Channel reports. The firm owned 10,000 shares of the company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in The Goodyear Tire & Rubber were worth $350,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of The Goodyear Tire & Rubber by 3,674.6% in the first 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 boosted its stake in shares of The Goodyear Tire & Rubber by 79.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 7,021,395 shares of the company’s stock valued at $252,770,000 after buying an additional 3,111,559 shares during the period. FMR LLC boosted its stake in shares of The Goodyear Tire & Rubber by 173.3% in the first 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 during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of The Goodyear Tire & Rubber by 602.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,295,362 shares of the company’s stock valued at $46,633,000 after buying an additional 1,110,842 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of The Goodyear Tire & Rubber by 16.1% in the first quarter. Bank of New York Mellon Corp now owns 5,349,243 shares of the company’s stock valued at $192,572,000 after buying an additional 742,406 shares during the period. 92.91% of the stock is currently owned by institutional investors and hedge funds.

The Goodyear Tire & Rubber Company (NASDAQ:GT) opened at 31.20 on Thursday. The company has a 50-day moving average price of $34.26 and a 200 day moving average price of $34.50. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 6.80 and a beta of 1.53. 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 the consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company earned $1.16 EPS. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, analysts expect that The Goodyear Tire & Rubber Company will post $3.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be issued a $0.10 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

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Several equities research analysts have recently issued reports on the company. Goldman Sachs Group, Inc. (The) set a $29.00 target price on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Jefferies Group LLC set a $36.00 target price on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research cut The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $46.00 target price (down from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The Goodyear Tire & Rubber has an average rating of “Hold” and an average price target of $38.10.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of the 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 in the company, valued at approximately $2,547,765.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate 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.

Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goodyear Tire & Rubber Company (NASDAQ:GT).

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

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