The Goodyear Tire & Rubber Co. (NASDAQ:GT) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 18,634,299 shares, a decline of 10.3% from the September 15th total of 20,772,857 shares. Based on an average trading volume of 3,513,603 shares, the short-interest ratio is presently 5.3 days. Approximately 7.2% of the shares of the stock are short sold.

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) opened at 31.11 on Wednesday. The Goodyear Tire & Rubber Co. has a 12-month low of $24.31 and a 12-month high of $35.30. The company has a 50-day moving average of $31.58 and a 200-day moving average of $29.13. The stock has a market capitalization of $8.16 billion, a P/E ratio of 30.59 and a beta of 1.73.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.13. The Goodyear Tire & Rubber Co. had a net margin of 1.75% and a return on equity of 24.06%. The company earned $3.88 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the company earned $0.84 EPS. The Goodyear Tire & Rubber Co.’s revenue was down 7.0% on a year-over-year basis. Equities analysts expect that The Goodyear Tire & Rubber Co. will post $4.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. This is an increase from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, October 28th. The Goodyear Tire & Rubber Co.’s dividend payout ratio is presently 28.00%.

A number of brokerages have issued reports on GT. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, July 13th. Credit Agricole SA lifted their target price on shares of The Goodyear Tire & Rubber Co. from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, September 16th. Citigroup Inc. lifted their target price on shares of The Goodyear Tire & Rubber Co. from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Goldman Sachs Group Inc. restated a “buy” rating and set a $35.00 target price on shares of The Goodyear Tire & Rubber Co. in a research report on Saturday, October 8th. Finally, Deutsche Bank AG upgraded shares of The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Tuesday, September 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $35.26.

A number of large investors have recently modified their holdings of GT. Acrospire Investment Management LLC purchased a new stake in The Goodyear Tire & Rubber Co. during the first quarter worth approximately $106,000. Whittier Trust Co. raised its stake in The Goodyear Tire & Rubber Co. by 43.3% in the second quarter. Whittier Trust Co. now owns 4,935 shares of the company’s stock worth $127,000 after buying an additional 1,491 shares in the last quarter. Pacer Advisors Inc. raised its stake in The Goodyear Tire & Rubber Co. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 5,323 shares of the company’s stock worth $137,000 after buying an additional 479 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in The Goodyear Tire & Rubber Co. by 9.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,450 shares of the company’s stock worth $166,000 after buying an additional 550 shares in the last quarter. Finally, Huntington National Bank raised its stake in The Goodyear Tire & Rubber Co. by 4.7% in the second quarter. Huntington National Bank now owns 7,434 shares of the company’s stock worth $190,000 after buying an additional 331 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

The Goodyear Tire & Rubber Co. Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific.

5 Day Chart for NASDAQ:GT

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