KCG Holdings Inc. Sells 7,399 Shares of The Goodyear Tire & Rubber Company (GT)

KCG Holdings Inc. decreased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 29.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,376 shares of the company’s stock after selling 7,399 shares during the period. KCG Holdings Inc.’s holdings in The Goodyear Tire & Rubber Company were worth $626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GT. BlackRock Inc. increased its stake in shares of The Goodyear Tire & Rubber Company by 3,674.6% in the first quarter. BlackRock Inc. now owns 22,277,221 shares of the company’s stock worth $801,980,000 after buying an additional 21,687,034 shares during the period. U S Global Investors Inc bought a new position in The Goodyear Tire & Rubber Company during the first quarter worth about $1,116,000. Renaissance Technologies LLC acquired a new position in shares of The Goodyear Tire & Rubber Company during the first quarter valued at about $11,398,000. Morgan Stanley boosted its position in shares of The Goodyear Tire & Rubber Company by 26.6% in the first quarter. Morgan Stanley now owns 1,010,777 shares of the company’s stock valued at $36,388,000 after buying an additional 212,668 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of The Goodyear Tire & Rubber Company by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,086,026 shares of the company’s stock valued at $147,088,000 after buying an additional 134,435 shares during the period. Institutional investors own 92.38% of the company’s stock.

Shares of The Goodyear Tire & Rubber Company (GT) traded down 0.014% during midday trading on Monday, reaching $36.265. 189,515 shares of the company’s stock were exchanged. The company’s 50-day moving average is $33.78 and its 200-day moving average is $33.97. The stock has a market cap of $9.13 billion, a P/E ratio of 7.651 and a beta of 1.55. The Goodyear Tire & Rubber Company has a one year low of $26.26 and a one year high of $37.20.

The Goodyear Tire & Rubber Company (NASDAQ:GT) last released its quarterly earnings results on Friday, April 28th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. The Goodyear Tire & Rubber Company had a return on equity of 22.60% and a net margin of 8.22%. The Goodyear Tire & Rubber Company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. Equities analysts expect that The Goodyear Tire & Rubber Company will post $3.83 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, July 28th. The Goodyear Tire & Rubber Company’s dividend payout ratio is currently 8.46%.

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Several analysts have recently commented on the stock. Morgan Stanley upgraded shares of The Goodyear Tire & Rubber Company from an “underweight” rating to an “overweight” rating in a report on Thursday, June 1st. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber Company from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, April 17th. Jefferies Group LLC set a $40.00 target price on shares of The Goodyear Tire & Rubber Company and gave the company a “hold” rating in a research report on Monday, May 8th. Citigroup Inc. boosted their price objective on shares of The Goodyear Tire & Rubber Company from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, April 7th. Finally, Goldman Sachs Group, Inc. (The) cut shares of The Goodyear Tire & Rubber Company from a “buy” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $33.00 in a research note on Thursday, March 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The Goodyear Tire & Rubber Company currently has an average rating of “Buy” and an average price target of $36.30.

In other The Goodyear Tire & Rubber Company news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $35.29, for a total value of $220,562.50. Following the completion of the sale, the insider now directly owns 78,099 shares in the company, valued at $2,756,113.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 18,750 shares of company stock valued at $662,938. 1.40% of the stock is owned by corporate insiders.

The Goodyear Tire & Rubber Company 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.

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

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