The Goodyear Tire & Rubber Company (NASDAQ:GT) released its earnings results on Friday. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03, Bloomberg Earnings reports. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS.

Shares of The Goodyear Tire & Rubber (GT) traded down 4.43% during mid-day trading on Friday, hitting $32.18. The stock had a trading volume of 10,642,562 shares. The company has a market cap of $8.10 billion, a PE ratio of 7.01 and a beta of 1.56. The stock’s 50-day moving average is $32.75 and its 200 day moving average is $33.39. The Goodyear Tire & Rubber has a 12 month low of $26.82 and a 12 month high of $37.20.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, October 31st. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 8.77%.

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

Large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of The Goodyear Tire & Rubber by 5.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,228,322 shares of the company’s stock valued at $42,943,000 after purchasing an additional 62,499 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of The Goodyear Tire & Rubber by 47.0% in the 2nd quarter. Prudential Financial Inc. now owns 976,079 shares of the company’s stock valued at $34,124,000 after purchasing an additional 312,298 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of The Goodyear Tire & Rubber by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 1,349,022 shares of the company’s stock valued at $47,164,000 after purchasing an additional 20,952 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of The Goodyear Tire & Rubber by 4.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 37,021 shares of the company’s stock valued at $1,333,000 after purchasing an additional 1,572 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of The Goodyear Tire & Rubber by 5.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 850,961 shares of the company’s stock valued at $29,750,000 after purchasing an additional 47,358 shares during the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on GT shares. 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 for the company. in a research report on Friday, July 28th. BidaskClub upgraded The Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Tuesday, August 1st. Morgan Stanley reiterated an “overweight” rating and issued a $46.00 target price (down from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC set a $36.00 target price on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Monday, August 7th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The Goodyear Tire & Rubber has a consensus rating of “Buy” and a consensus price target of $38.00.

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.

Earnings History for The Goodyear Tire & Rubber (NASDAQ:GT)

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