The Goodyear Tire & Rubber Co. (NASDAQ:GT) insider Stephen R. Mcclellan sold 471 shares of the stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $31.07, for a total value of $14,633.97. Following the completion of the transaction, the insider now directly owns 78,639 shares of the company’s stock, valued at $2,443,313.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded down 1.65% during trading on Wednesday, reaching $30.48. The company had a trading volume of 3,080,937 shares. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 25.46 and a beta of 1.33. The firm has a 50-day moving average of $30.76 and a 200 day moving average of $28.88. The Goodyear Tire & Rubber Co. has a 52 week low of $24.31 and a 52 week high of $35.30.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last released its quarterly earnings results on Friday, October 28th. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.01. The Goodyear Tire & Rubber Co. had a return on equity of 24.47% and a net margin of 2.09%. The company earned $3.80 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts forecast that The Goodyear Tire & Rubber Co. will post $3.95 earnings per share for the current year.

Insider Buying and Selling by Quarter for The Goodyear Tire & Rubber Co. (NASDAQ:GT)

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders 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 dividend yield of 1.31%. This is a boost from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, October 28th. The Goodyear Tire & Rubber Co.’s payout ratio is 33.33%.

Several brokerages have issued reports on GT. Citigroup Inc. upped their target price on The Goodyear Tire & Rubber Co. from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Deutsche Bank AG upgraded 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 report on Tuesday, September 6th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $35.00 target price on shares of The Goodyear Tire & Rubber Co. in a report on Saturday, October 8th. Finally, Credit Agricole SA upped their target price on The Goodyear Tire & Rubber Co. from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, September 16th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The Goodyear Tire & Rubber Co. has a consensus rating of “Buy” and a consensus target price of $35.05.

Several institutional investors have recently added to or reduced their stakes in GT. Sumitomo Mitsui Trust Holdings Inc. raised its position in The Goodyear Tire & Rubber Co. by 2.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 828,724 shares of the company’s stock valued at $21,265,000 after buying an additional 16,237 shares during the last quarter. BlueMountain Capital Management LLC raised its position in The Goodyear Tire & Rubber Co. by 787.9% in the first quarter. BlueMountain Capital Management LLC now owns 38,845 shares of the company’s stock valued at $1,281,000 after buying an additional 34,470 shares during the last quarter. First Republic Investment Management Inc. raised its position in The Goodyear Tire & Rubber Co. by 506.5% in the first quarter. First Republic Investment Management Inc. now owns 90,356 shares of the company’s stock valued at $2,981,000 after buying an additional 75,457 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in The Goodyear Tire & Rubber Co. by 36.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,843 shares of the company’s stock valued at $850,000 after buying an additional 6,869 shares during the last quarter. Finally, Seven Eight Capital LLC acquired a new position in The Goodyear Tire & Rubber Co. during the first quarter valued at approximately $278,000. 92.81% of the stock is owned by institutional investors.

About The Goodyear Tire & Rubber Co.

The Goodyear Tire & Rubber Company is engaged in developing, manufacturing, marketing and distributing tires for various applications. It also manufactures and markets rubber-related chemicals for various applications. The Company’s Americas business comprises businesses of North America and Latin America.

5 Day Chart for NASDAQ:GT

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