Legal & General Group Plc boosted its stake in The Goodyear Tire & Rubber Co. (NASDAQ:GT) by 210.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,247,893 shares of the company’s stock after buying an additional 846,079 shares during the period. Legal & General Group Plc owned approximately 0.47% of The Goodyear Tire & Rubber Co. worth $41,151,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in GT. BlackRock Advisors LLC raised its stake in The Goodyear Tire & Rubber Co. by 23.1% in the fourth quarter. BlackRock Advisors LLC now owns 1,727,072 shares of the company’s stock worth $56,423,000 after buying an additional 324,078 shares during the period. Globeflex Capital L P raised its stake in The Goodyear Tire & Rubber Co. by 18.2% in the fourth quarter. Globeflex Capital L P now owns 34,760 shares of the company’s stock worth $1,136,000 after buying an additional 5,340 shares during the period. Towle & Co. raised its stake in The Goodyear Tire & Rubber Co. by 0.4% in the fourth quarter. Towle & Co. now owns 831,338 shares of the company’s stock worth $27,160,000 after buying an additional 3,680 shares during the period. Victory Capital Management Inc. raised its stake in The Goodyear Tire & Rubber Co. by 28.2% in the fourth quarter. Victory Capital Management Inc. now owns 896,003 shares of the company’s stock worth $29,273,000 after buying an additional 197,073 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in The Goodyear Tire & Rubber Co. by 1.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 68,564 shares of the company’s stock worth $2,240,000 after buying an additional 755 shares during the period.
Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded up 4.23% during trading on Wednesday, hitting $29.09. The stock had a trading volume of 8,635,814 shares. The company has a market cap of $7.74 billion and a P/E ratio of 29.71. The Goodyear Tire & Rubber Co. has a 12 month low of $24.31 and a 12 month high of $35.30. The stock has a 50-day moving average price of $26.62 and a 200 day moving average price of $29.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 1st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, July 28th.
A number of analysts recently commented on the company. Standpoint Research lowered The Goodyear Tire & Rubber Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Zacks Investment Research raised The Goodyear Tire & Rubber Co. from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research note on Tuesday, April 19th. KeyCorp upgraded The Goodyear Tire & Rubber Co. from a “sector weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a report on Thursday, April 7th. Finally, Vetr downgraded The Goodyear Tire & Rubber Co. from a “strong-buy” rating to a “buy” rating and set a $30.38 price objective for the company. in a report on Wednesday, June 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.48.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific.
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