BidaskClub upgraded shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) from a sell rating to a hold rating in a research note published on Wednesday.

Other research analysts have also issued reports about the company. Jefferies Group LLC set a $40.00 target price on The Goodyear Tire & Rubber and gave the company a hold rating in a research report on Monday, May 8th. Guggenheim began coverage on The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They set a buy rating and a $39.00 target price on the stock. Zacks Investment Research lowered The Goodyear Tire & Rubber from a hold rating to a sell rating in a research report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) lowered The Goodyear Tire & Rubber from a buy rating to a neutral rating and reduced their target price for the company from $34.00 to $33.00 in a research report on Thursday, March 30th. They noted that the move was a valuation call. Finally, CLSA began coverage on The Goodyear Tire & Rubber in a research report on Wednesday, June 21st. They set a buy rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $36.30.

Shares of The Goodyear Tire & Rubber (GT) opened at 36.31 on Wednesday. The company has a 50-day moving average price of $33.78 and a 200 day moving average price of $33.97. The company has a market capitalization of $9.14 billion, a P/E ratio of 7.66 and a beta of 1.55. The Goodyear Tire & Rubber has a 12-month low of $26.26 and a 12-month high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, April 28th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.78 billion. The Goodyear Tire & Rubber had a return on equity of 22.60% and a net margin of 8.22%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts anticipate that The Goodyear Tire & Rubber will post $3.83 earnings per share for the current fiscal year.

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

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $35.29, for a total value of $220,562.50. Following the transaction, the insider now directly owns 78,099 shares of the company’s stock, valued at $2,756,113.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 18,750 shares of company stock worth $662,938 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Architects Inc raised its position in shares of The Goodyear Tire & Rubber by 101.5% in the first quarter. Financial Architects Inc now owns 3,471 shares of the company’s stock worth $125,000 after buying an additional 1,748 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of The Goodyear Tire & Rubber by 21.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,077 shares of the company’s stock worth $147,000 after buying an additional 716 shares in the last quarter. Exane Derivatives raised its position in shares of The Goodyear Tire & Rubber by 204,800.0% in 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 in the last quarter. Global X Management Co. LLC raised its position in shares of The Goodyear Tire & Rubber by 30.4% in the first quarter. Global X Management Co. LLC now owns 4,936 shares of the company’s stock worth $178,000 after buying an additional 1,150 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of The Goodyear Tire & Rubber by 3.2% in 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. 92.38% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for The Goodyear Tire & Rubber (NASDAQ:GT)

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