The Goodyear Tire & Rubber Co. (NASDAQ:GT) had its target price hoisted by Credit Agricole SA from $34.00 to $37.00 in a research note issued to investors on Friday morning. They currently have a market perform rating on the stock.

GT has been the subject of a number of other reports. Zacks Investment Research raised The Goodyear Tire & Rubber Co. from a hold rating to a buy rating and set a $30.00 price target for the company in a report on Wednesday, July 13th. Vetr downgraded The Goodyear Tire & Rubber Co. from a strong-buy rating to a buy rating and set a $30.38 price target for the company. in a report on Monday, June 20th. Standpoint Research raised The Goodyear Tire & Rubber Co. from a hold rating to a buy rating and set a $35.00 price target for the company in a report on Friday, May 20th. Citigroup Inc. upped their price target 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. Finally, Deutsche Bank AG raised The Goodyear Tire & Rubber Co. from a hold rating to a buy rating and set a $37.00 price target for the company in a report on Tuesday, September 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The Goodyear Tire & Rubber Co. currently has an average rating of Buy and a consensus target price of $35.30.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded up 0.725% during trading on Friday, hitting $32.655. 680,917 shares of the stock traded hands. The firm’s 50-day moving average is $29.20 and its 200-day moving average is $29.15. The stock has a market cap of $8.57 billion, a P/E ratio of 32.109 and a beta of 1.83. The Goodyear Tire & Rubber Co. has a 12 month low of $24.31 and a 12 month high of $35.30.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 1st will be issued a dividend of $0.10 per share. This is an increase from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 1.23%. The Goodyear Tire & Rubber Co.’s dividend payout ratio (DPR) is currently 28.00%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GT. Legal & General Group Plc boosted its position in The Goodyear Tire & Rubber Co. by 210.6% in the first quarter. Legal & General Group Plc now owns 1,247,893 shares of the company’s stock valued at $41,151,000 after buying an additional 846,079 shares during the last quarter. Renaissance Technologies LLC boosted its position in 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 valued at $16,909,000 after buying an additional 293,000 shares during the last quarter. Nuveen Asset Management LLC boosted its position in The Goodyear Tire & Rubber Co. by 393.3% in the first quarter. Nuveen Asset Management LLC now owns 209,572 shares of the company’s stock valued at $6,912,000 after buying an additional 167,086 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in The Goodyear Tire & Rubber Co. by 5.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 68,840 shares of the company’s stock valued at $1,766,000 after buying an additional 3,822 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in The Goodyear Tire & Rubber Co. by 44.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 90,634 shares of the company’s stock valued at $2,305,000 after buying an additional 27,745 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

About The Goodyear Tire & Rubber Co.

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

Receive News & Ratings for The Goodyear Tire & Rubber Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goodyear Tire & Rubber Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.