The Goodyear Tire & Rubber Company (GT) Position Increased by Suntrust Banks Inc.

Suntrust Banks Inc. raised its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 18.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,792 shares of the company’s stock after acquiring an additional 2,019 shares during the quarter. Suntrust Banks Inc.’s holdings in The Goodyear Tire & Rubber were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of GT. UBS Asset Management Americas Inc. grew its holdings in shares of The Goodyear Tire & Rubber by 24.0% during the first quarter. UBS Asset Management Americas Inc. now owns 829,846 shares of the company’s stock worth $29,874,000 after buying an additional 160,874 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of The Goodyear Tire & Rubber during the first quarter worth about $208,000. Pacer Advisors Inc. grew its holdings in shares of The Goodyear Tire & Rubber by 3.2% during the first quarter. Pacer Advisors Inc. now owns 5,426 shares of the company’s stock worth $195,000 after buying an additional 167 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of The Goodyear Tire & Rubber by 15.6% during the first quarter. JPMorgan Chase & Co. now owns 419,629 shares of the company’s stock worth $15,107,000 after buying an additional 56,663 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of The Goodyear Tire & Rubber by 3.7% during the first quarter. Neuberger Berman Group LLC now owns 22,177 shares of the company’s stock worth $798,000 after buying an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.

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GT has been the subject of a number of recent research reports. Jefferies Group LLC upgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, June 20th. Guggenheim initiated coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They set a “buy” rating and a $39.00 price target for the company. CLSA initiated coverage on shares of The Goodyear Tire & Rubber in a report on Wednesday, June 21st. They set a “buy” rating and a $39.00 price target for the company. Zacks Investment Research downgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The Goodyear Tire & Rubber currently has a consensus rating of “Buy” and a consensus price target of $38.25.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $33.26, for a total transaction of $249,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 15,501 shares of company stock valued at $507,866 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Shares of The Goodyear Tire & Rubber Company (NASDAQ GT) opened at 33.02 on Wednesday. The Goodyear Tire & Rubber Company has a 52-week low of $26.82 and a 52-week high of $37.20. The firm has a market capitalization of $8.31 billion, a PE ratio of 7.19 and a beta of 1.56. The company has a 50 day moving average of $31.80 and a 200 day moving average of $33.54.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $1.16 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post $3.05 earnings per share for the current fiscal year.

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.

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

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