Morgan Stanley set a $52.00 price objective on The Goodyear Tire & Rubber Company (NASDAQ:GT) in a research note released on Friday morning. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of The Goodyear Tire & Rubber from a hold rating to a buy rating and set a $38.00 price objective for the company in a research note on Monday, April 17th. Citigroup Inc. upped their price objective on shares of The Goodyear Tire & Rubber from $36.00 to $41.00 and gave the company a buy rating in a research note on Friday, April 7th. CLSA initiated coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They set a buy rating and a $39.00 price objective for the company. Guggenheim initiated coverage on shares of The Goodyear Tire & Rubber in a research note on Wednesday, June 21st. They set a buy rating and a $39.00 price objective for the company. Finally, Jefferies Group LLC raised shares of The Goodyear Tire & Rubber from a hold rating to a buy rating and set a $39.00 price objective for the company in a research note on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The Goodyear Tire & Rubber presently has an average rating of Hold and a consensus target price of $39.00.

Shares of The Goodyear Tire & Rubber (NASDAQ:GT) traded down 1.52% during midday trading on Friday, hitting $31.03. 2,693,482 shares of the stock were exchanged. The stock has a market cap of $7.81 billion, a P/E ratio of 6.76 and a beta of 1.55. The Goodyear Tire & Rubber has a one year low of $26.82 and a one year high of $37.20. The stock’s 50-day moving average price is $34.88 and its 200 day moving average price is $34.52.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.05. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The Goodyear Tire & Rubber’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber will post $3.76 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 1st will be issued a $0.10 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. The Goodyear Tire & Rubber’s dividend payout ratio is 8.77%.

In other news, insider Stephen R. Mcclellan sold 6,250 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $35.29, for a total value of $220,562.50. Following the transaction, the insider now owns 78,099 shares in the company, valued at approximately $2,756,113.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 18,750 shares of company stock worth $662,938 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of GT. Thrivent Financial for Lutherans increased its position in The Goodyear Tire & Rubber by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,140 shares of the company’s stock worth $282,000 after buying an additional 510 shares in the last quarter. Kentucky Retirement Systems purchased a new position in The Goodyear Tire & Rubber during the fourth quarter worth approximately $585,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in The Goodyear Tire & Rubber during the fourth quarter worth approximately $261,000. Macquarie Group Ltd. increased its position in The Goodyear Tire & Rubber by 51.9% in the fourth quarter. Macquarie Group Ltd. now owns 98,450 shares of the company’s stock worth $3,039,000 after buying an additional 33,650 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its position in The Goodyear Tire & Rubber by 24.7% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 159,211 shares of the company’s stock worth $5,732,000 after buying an additional 31,553 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

The Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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

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