APG Asset Management N.V. Reduces Stake in The Goodyear Tire & Rubber Company (GT)

APG Asset Management N.V. cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 41.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 379,959 shares of the company’s stock after selling 269,400 shares during the quarter. APG Asset Management N.V. owned approximately 0.15% of The Goodyear Tire & Rubber worth $12,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GT. Financial Architects Inc increased its stake in shares of 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 acquiring an additional 75 shares during the last quarter. First Quadrant L P CA acquired a new position in The Goodyear Tire & Rubber during the second quarter worth $130,000. Washington Trust Bank increased its position in The Goodyear Tire & Rubber by 46.3% during 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 position in The Goodyear Tire & Rubber by 204,800.0% during 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, Schroder Investment Management Group acquired a new position in The Goodyear Tire & Rubber during the second quarter worth $160,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

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The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business earned $1.17 EPS. The company’s revenue was up 1.9% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be paid a $0.14 dividend. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, October 31st. The Goodyear Tire & Rubber’s payout ratio is presently 14.47%.

Several equities analysts have commented on the stock. Guggenheim downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a research report on Wednesday. Zacks Investment Research downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday. J P Morgan Chase & Co lowered their target price on shares of The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup Inc. downgraded shares of The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $36.00 in a research report on Monday. Finally, BidaskClub raised shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The Goodyear Tire & Rubber currently has a consensus rating of “Buy” and an average price target of $37.55.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of The Goodyear Tire & Rubber stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $33.26, for a total value of $249,450.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 15,501 shares of company stock worth $507,866 over the last quarter. Company insiders own 1.40% of the company’s stock.

The Goodyear Tire & Rubber Company 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.

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

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