Goodyear Tire & Rubber Co (NASDAQ:GT) saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 11,275,472 shares, a growth of 25.0% from the April 15th total of 9,019,999 shares. Based on an average trading volume of 2,710,180 shares, the short-interest ratio is presently 4.2 days. Approximately 4.9% of the company’s shares are sold short.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Counselors Inc. boosted its stake in Goodyear Tire & Rubber by 0.4% in the 4th quarter. Financial Counselors Inc. now owns 144,076 shares of the company’s stock worth $2,941,000 after purchasing an additional 517 shares during the period. TD Asset Management Inc. boosted its stake in Goodyear Tire & Rubber by 0.9% in the 4th quarter. TD Asset Management Inc. now owns 69,256 shares of the company’s stock worth $1,414,000 after purchasing an additional 638 shares during the period. Comerica Bank boosted its stake in Goodyear Tire & Rubber by 1.3% in the 4th quarter. Comerica Bank now owns 51,019 shares of the company’s stock worth $1,065,000 after purchasing an additional 676 shares during the period. Fruth Investment Management boosted its stake in Goodyear Tire & Rubber by 1.1% in the 1st quarter. Fruth Investment Management now owns 67,090 shares of the company’s stock worth $1,217,000 after purchasing an additional 750 shares during the period. Finally, Hancock Whitney Corp boosted its stake in Goodyear Tire & Rubber by 3.0% in the 1st quarter. Hancock Whitney Corp now owns 25,977 shares of the company’s stock worth $471,000 after purchasing an additional 760 shares during the period. 88.24% of the stock is owned by hedge funds and other institutional investors.

GT opened at $14.58 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 0.70. Goodyear Tire & Rubber has a 12 month low of $14.46 and a 12 month high of $25.82. The firm has a market capitalization of $3.47 billion, a P/E ratio of 6.28, a PEG ratio of -1.56 and a beta of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, April 26th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.74 billion. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. As a group, sell-side analysts forecast that Goodyear Tire & Rubber will post 2.01 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Tuesday, April 30th. Goodyear Tire & Rubber’s payout ratio is presently 27.59%.

A number of research firms recently commented on GT. KeyCorp began coverage on shares of Goodyear Tire & Rubber in a research report on Wednesday. They issued a “sector weight” rating and a $14.93 price objective for the company. Morgan Stanley set a $15.00 price objective on shares of Goodyear Tire & Rubber and gave the company a “hold” rating in a research report on Thursday, May 16th. BidaskClub cut shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 14th. ValuEngine cut shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 9th. Finally, Zacks Investment Research upgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Goodyear Tire & Rubber presently has a consensus rating of “Hold” and an average price target of $20.77.

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Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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