The Goodyear Tire & Rubber Co. (NASDAQ:GT)‘s stock had its “underperform” rating reissued by investment analysts at Morgan Stanley in a research report issued on Tuesday.

Several other brokerages have also recently weighed in on GT. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $35.00 price objective on shares of The Goodyear Tire & Rubber Co. in a research note on Saturday, October 8th. boosted their target price on shares of 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. Berenberg Bank started coverage on shares of The Goodyear Tire & Rubber Co. in a report on Tuesday. They issued a “buy” rating and a $36.00 target price on the stock. 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 on the stock in a report on Tuesday, September 6th. Finally, Citigroup Inc. boosted their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $35.15.

Analyst Recommendations for The Goodyear Tire & Rubber Co. (NASDAQ:GT)

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded up 1.70% during trading on Tuesday, hitting $30.43. The stock had a trading volume of 2,836,720 shares. The Goodyear Tire & Rubber Co. has a 1-year low of $24.31 and a 1-year high of $35.30. The company has a market capitalization of $7.94 billion, a P/E ratio of 25.42 and a beta of 1.33. The firm has a 50-day moving average of $30.55 and a 200 day moving average of $28.94.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last issued its quarterly earnings data on Friday, October 28th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The Goodyear Tire & Rubber Co. had a net margin of 2.09% and a return on equity of 24.47%. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The Goodyear Tire & Rubber Co.’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities research analysts predict that The Goodyear Tire & Rubber Co. will post $3.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 1.34%. The ex-dividend date is Friday, October 28th. This is a positive change from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. The Goodyear Tire & Rubber Co.’s dividend payout ratio is currently 33.33%.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in The Goodyear Tire & Rubber Co. by 1.2% in the second quarter. Vanguard Group Inc. now owns 23,666,446 shares of the company’s stock worth $607,280,000 after buying an additional 279,719 shares in the last quarter. State Street Corp raised its stake in The Goodyear Tire & Rubber Co. by 0.6% in the second quarter. State Street Corp now owns 11,555,437 shares of the company’s stock worth $296,519,000 after buying an additional 70,723 shares in the last quarter. LSV Asset Management raised its stake in The Goodyear Tire & Rubber Co. by 5.0% in the third quarter. LSV Asset Management now owns 9,267,168 shares of the company’s stock worth $299,329,000 after buying an additional 440,800 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in The Goodyear Tire & Rubber Co. by 28.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,485,852 shares of the company’s stock worth $217,747,000 after buying an additional 1,892,700 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in The Goodyear Tire & Rubber Co. by 5.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,143,650 shares of the company’s stock worth $198,440,000 after buying an additional 315,818 shares in the last quarter. Institutional investors own 90.58% of the company’s stock.

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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