Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned an average recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $38.25.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank AG downgraded 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. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Tuesday, August 1st. Morgan Stanley restated an “overweight” rating and issued a $46.00 price objective (down previously from $52.00) on shares of The Goodyear Tire & Rubber in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC set a $36.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a “buy” rating in a research note on Monday, August 7th.

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Shares of The Goodyear Tire & Rubber (NASDAQ GT) traded up 0.56% on Friday, hitting $32.43. 2,968,935 shares of the 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 stock has a 50-day moving average price of $30.80 and a 200 day moving average price of $33.94. The Goodyear Tire & Rubber has a 12-month low of $26.82 and a 12-month high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.05). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The company’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, analysts anticipate that The Goodyear Tire & Rubber will post $3.04 earnings per share for the current fiscal year.

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

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber stock in a transaction on Monday, July 10th. The shares were sold at an average price of $35.46, for a total transaction of $221,625.00. Following the sale, the insider now owns 71,849 shares in the company, valued at $2,547,765.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 6,751 shares of company stock worth $236,741 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Architects Inc lifted its holdings in shares of The Goodyear Tire & Rubber by 2.2% during 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 during the period. First Quadrant L P CA bought a new position in shares of The Goodyear Tire & Rubber during the second quarter valued at $130,000. Washington Trust Bank lifted its holdings in shares of The Goodyear Tire & Rubber by 46.3% during 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 during the period. Exane Derivatives lifted its holdings in shares of The Goodyear Tire & Rubber by 204,800.0% during 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 during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The Goodyear Tire & Rubber by 21.3% during 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 during the period. 90.34% of the stock is owned by institutional investors.

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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