Envestnet Asset Management Inc. Sells 4,290 Shares of The Goodyear Tire & Rubber Company (GT)

Envestnet Asset Management Inc. reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 16.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,249 shares of the company’s stock after selling 4,290 shares during the period. Envestnet Asset Management Inc.’s holdings in The Goodyear Tire & Rubber were worth $706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans lifted its holdings in shares of The Goodyear Tire & Rubber by 3.0% during the second quarter. Thrivent Financial For Lutherans now owns 9,560 shares of the company’s stock valued at $334,000 after purchasing an additional 280 shares in the last quarter. Westover Capital Advisors LLC lifted its holdings in shares of The Goodyear Tire & Rubber by 5.7% during the second quarter. Westover Capital Advisors LLC now owns 6,139 shares of the company’s stock valued at $215,000 after purchasing an additional 330 shares in the last quarter. First Allied Advisory Services Inc. lifted its holdings in The Goodyear Tire & Rubber by 1.5% in the second quarter. First Allied Advisory Services Inc. now owns 27,320 shares of the company’s stock valued at $949,000 after acquiring an additional 400 shares during the period. Pacer Advisors Inc. lifted its holdings in The Goodyear Tire & Rubber by 8.4% in the second quarter. Pacer Advisors Inc. now owns 5,883 shares of the company’s stock valued at $206,000 after acquiring an additional 457 shares during the period. Finally, Simmons Bank lifted its holdings in The Goodyear Tire & Rubber by 3.0% in the second quarter. Simmons Bank now owns 19,426 shares of the company’s stock valued at $679,000 after acquiring an additional 559 shares during the period. 94.64% of the stock is currently owned by hedge funds and other institutional investors.

The Goodyear Tire & Rubber Company (NASDAQ GT) opened at $32.57 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. The Goodyear Tire & Rubber Company has a 12 month low of $28.81 and a 12 month high of $37.20. The company has a market capitalization of $7,985.92, a PE ratio of 10.46, a PEG ratio of 0.91 and a beta of 1.52.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, October 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. The Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. research analysts expect that The Goodyear Tire & Rubber Company will post 2.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st were paid a $0.14 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.72%. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 14.47%.

In other news, SVP Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $30.53, for a total value of $228,975.00. Following the transaction, the senior vice president now owns 59,348 shares of the company’s stock, valued at $1,811,894.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 22,500 shares of company stock worth $719,325 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

A number of research analysts have weighed in on the company. Jefferies Group reissued a “buy” rating and issued a $36.00 target price on shares of The Goodyear Tire & Rubber in a report on Thursday, October 12th. Guggenheim downgraded The Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a report on Wednesday, November 1st. ValuEngine raised The Goodyear Tire & Rubber from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. BidaskClub raised The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Finally, J P Morgan Chase & Co lowered their target price on The Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The Goodyear Tire & Rubber currently has an average rating of “Hold” and an average price target of $37.70.

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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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