Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) have received an average rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.78.
Several research firms have weighed in on GT. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Jefferies Group restated a “buy” rating and set a $36.00 price target on shares of Goodyear Tire & Rubber in a report on Thursday, October 12th. Guggenheim cut Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a report on Wednesday, November 1st. BidaskClub upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Finally, JPMorgan Chase & Co. cut their price target on Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, October 30th.
Goodyear Tire & Rubber (GT) traded up $0.91 during trading hours on Friday, hitting $34.99. The company had a trading volume of 2,973,350 shares, compared to its average volume of 2,432,655. The stock has a market capitalization of $8,394.83, a PE ratio of 9.04, a P/E/G ratio of 0.73 and a beta of 1.53. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. Goodyear Tire & Rubber has a 12-month low of $28.81 and a 12-month high of $37.20.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, January 31st. Goodyear Tire & Rubber’s payout ratio is 14.47%.
In other news, SVP Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $32.12, for a total value of $240,900.00. Following the completion of the sale, the senior vice president now directly owns 51,848 shares of the company’s stock, valued at approximately $1,665,357.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Goodyear Tire & Rubber by 143.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after acquiring an additional 2,682 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $160,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $205,000. Westover Capital Advisors LLC lifted its stake in shares of Goodyear Tire & Rubber by 5.7% during the 2nd quarter. Westover Capital Advisors LLC now owns 6,139 shares of the company’s stock worth $215,000 after acquiring an additional 330 shares during the last quarter. Finally, Profund Advisors LLC raised its position in Goodyear Tire & Rubber by 22.4% during the 2nd quarter. Profund Advisors LLC now owns 6,985 shares of the company’s stock valued at $244,000 after purchasing an additional 1,277 shares in the last quarter. 94.70% of the stock is owned by hedge funds and other institutional investors.
About 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.
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