The Goodyear Tire & Rubber Co. (NASDAQ:GT) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 22,972,784 shares, a growth of 16.3% from the October 31st total of 19,758,924 shares. Based on an average daily trading volume, of 3,995,513 shares, the short-interest ratio is currently 5.7 days. Currently, 8.9% of the shares of the stock are sold short.

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of The Goodyear Tire & Rubber Co. by 133.4% in the first quarter. Renaissance Technologies LLC now owns 512,700 shares of the company’s stock worth $16,909,000 after buying an additional 293,000 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of The Goodyear Tire & Rubber Co. by 65.9% in the first quarter. Envestnet Asset Management Inc. now owns 27,475 shares of the company’s stock worth $906,000 after buying an additional 10,911 shares in the last quarter. Arizona State Retirement System boosted its position in shares of The Goodyear Tire & Rubber Co. by 1.7% in the first quarter. Arizona State Retirement System now owns 72,379 shares of the company’s stock worth $2,387,000 after buying an additional 1,200 shares in the last quarter. Seven Eight Capital LLC purchased a new position in shares of The Goodyear Tire & Rubber Co. during the first quarter worth $278,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of 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 worth $850,000 after buying an additional 6,869 shares in the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on GT shares. Morgan Stanley set a $24.00 target price on shares of The Goodyear Tire & Rubber Co. and gave the company a “sell” rating in a research note on Thursday. Berenberg Bank started coverage on shares of The Goodyear Tire & Rubber Co. in a research note on Tuesday, November 22nd. They set a “buy” rating and a $36.00 target price on the stock. Goldman Sachs Group Inc. reissued a “buy” rating and set a $35.00 target price 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 research note on Friday, September 16th. Finally, Deutsche Bank AG raised 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 research note on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $34.04.

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) opened at 31.16 on Friday. The company has a 50-day moving average of $30.35 and a 200-day moving average of $28.99. The Goodyear Tire & Rubber Co. has a one year low of $24.31 and a one year high of $35.30. The company has a market capitalization of $8.13 billion, a PE ratio of 26.03 and a beta of 1.33.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last announced its quarterly earnings data on Friday, October 28th. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts anticipate that The Goodyear Tire & Rubber Co. will post $3.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 1st will be paid a $0.10 dividend. The ex-dividend date is Friday, October 28th. This is a boost from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. The Goodyear Tire & Rubber Co.’s dividend payout ratio (DPR) is presently 33.33%.

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The Goodyear Tire & Rubber Co. Company Profile

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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