The Goodyear Tire & Rubber Company (GT) Receives Average Recommendation of “Hold” from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $38.11.

GT has been the topic of a number of recent research reports. Deutsche Bank AG lowered The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Friday, July 28th. Morgan Stanley set a $52.00 target price on The Goodyear Tire & Rubber and gave the company a “buy” rating in a report on Friday, July 28th. BidaskClub lowered The Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Jefferies Group LLC set a $39.00 price objective on The Goodyear Tire & Rubber and gave the stock a “buy” rating in a report on Saturday, July 29th. Finally, Zacks Investment Research lowered The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Monday, April 24th.

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In related news, insider Stephen R. Mcclellan sold 6,250 shares of the company’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 transaction, the insider now directly owns 71,849 shares in the company, valued at $2,547,765.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in The Goodyear Tire & Rubber by 3,674.6% in the first quarter. BlackRock Inc. now owns 22,277,221 shares of the company’s stock valued at $801,980,000 after buying an additional 21,687,034 shares during the last quarter. State Street Corp raised its stake in shares of The Goodyear Tire & Rubber by 2.3% in the first quarter. State Street Corp now owns 12,706,654 shares of the company’s stock valued at $457,442,000 after buying an additional 287,023 shares in the last quarter. LSV Asset Management raised its stake in shares of The Goodyear Tire & Rubber by 6.6% in the second quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock valued at $357,644,000 after buying an additional 634,919 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of The Goodyear Tire & Rubber by 8.5% in the first quarter. Wellington Management Group LLP now owns 7,435,492 shares of the company’s stock valued at $267,678,000 after buying an additional 581,628 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of The Goodyear Tire & Rubber by 79.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 7,021,395 shares of the company’s stock valued at $252,770,000 after buying an additional 3,111,559 shares in the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.

The Goodyear Tire & Rubber (NASDAQ:GT) traded down 0.20% during trading on Friday, hitting $30.37. 817,204 shares of the stock traded hands. The company’s 50 day moving average price is $34.17 and its 200 day moving average price is $34.47. The company has a market cap of $7.65 billion, a P/E ratio of 6.62 and a beta of 1.53. 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 released its quarterly earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.75 by $0.05. The firm had revenue of $3.69 billion for 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 quarterly revenue was down 5.0% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. On average, equities research analysts anticipate that The Goodyear Tire & Rubber will post $3.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The Goodyear Tire & Rubber’s dividend payout ratio is currently 8.77%.

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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