BidaskClub upgraded shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) from a strong sell rating to a sell rating in a report released on Wednesday morning.

GT has been the topic of several other research reports. Morgan Stanley restated a buy rating and set a $46.00 target price on shares of The Goodyear Tire & Rubber in a research note on Monday, September 11th. Deutsche Bank AG cut shares of The Goodyear Tire & Rubber from a buy rating to a hold rating and set a $40.00 price objective on the stock. in a research note on Friday, July 28th. Jefferies Group LLC set a $39.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a buy rating in a research note on Saturday, July 29th. ValuEngine cut shares of The Goodyear Tire & Rubber from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Finally, CLSA started coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They issued a buy rating and a $39.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $38.10.

Shares of The Goodyear Tire & Rubber (NASDAQ:GT) traded up 0.56% during mid-day trading on Wednesday, reaching $32.43. 2,968,935 shares of the company’s stock traded hands. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 7.07 and a beta of 1.54. The Goodyear Tire & Rubber has a 12-month low of $26.82 and a 12-month high of $37.20. The firm’s 50 day moving average price is $30.80 and its 200-day moving average price is $33.94.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The Goodyear Tire & Rubber’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 EPS. Equities research analysts forecast that The Goodyear Tire & Rubber will post $3.04 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, July 28th. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 8.77%.

In related news, insider Stephen R. Mcclellan sold 6,250 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $35.46, for a total value of $221,625.00. Following the completion of the sale, the insider now directly owns 71,849 shares in the company, valued at $2,547,765.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 6,751 shares of company stock valued at $236,741. 1.40% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Financial Architects Inc raised its holdings in shares of The Goodyear Tire & Rubber by 2.2% in the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock valued at $124,000 after acquiring an additional 75 shares in the last quarter. First Quadrant L P CA bought a new stake in shares of The Goodyear Tire & Rubber in the second quarter valued at about $130,000. Washington Trust Bank raised its holdings in shares of The Goodyear Tire & Rubber by 46.3% in the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock valued at $136,000 after acquiring an additional 1,230 shares in the last quarter. Exane Derivatives raised its holdings 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 valued at $143,000 after acquiring an additional 4,096 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $147,000 after acquiring an additional 716 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

About The Goodyear Tire & Rubber

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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