The Goodyear Tire & Rubber Company (NASDAQ:GT) released its quarterly earnings results on Friday. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05, Bloomberg Earnings reports. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. The Goodyear Tire & Rubber had a net margin of 8.22% and a return on equity of 22.60%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS.

Shares of The Goodyear Tire & Rubber (GT) traded down 8.37% on Friday, reaching $32.51. 18,004,667 shares of the company traded hands. The firm has a 50-day moving average price of $35.00 and a 200 day moving average price of $34.47. The company has a market capitalization of $8.19 billion, a PE ratio of 7.08 and a beta of 1.56. The Goodyear Tire & Rubber has a one year low of $26.82 and a one year high of $37.20.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, July 28th. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of The Goodyear Tire & Rubber stock in a transaction on Friday, June 9th. The shares were sold at an average price of $35.29, for a total transaction of $220,562.50. Following the transaction, the insider now directly owns 78,099 shares of the company’s stock, valued at approximately $2,756,113.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 18,750 shares of company stock worth $662,938 over the last ninety days. Insiders own 1.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Financial Architects Inc increased its position in The Goodyear Tire & Rubber by 2.2% in the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after buying an additional 75 shares in the last quarter. First Quadrant L P CA bought a new position in shares of The Goodyear Tire & Rubber during the second quarter worth $130,000. Washington Trust Bank increased its position in shares of The Goodyear Tire & Rubber by 46.3% in the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after buying an additional 1,230 shares during the period. Exane Derivatives increased its position in shares of The Goodyear Tire & Rubber by 204,800.0% in the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after buying an additional 4,096 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of The Goodyear Tire & Rubber by 21.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,077 shares of the company’s stock worth $147,000 after buying an additional 716 shares during the period. 92.47% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub upgraded shares of The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Morgan Stanley set a $52.00 price target on shares of The Goodyear Tire & Rubber and gave the company a “buy” rating in a report on Friday. Deutsche Bank AG cut shares of The Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Friday. Finally, ValuEngine cut shares of The Goodyear Tire & Rubber from a “strong-buy” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.40.

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About The Goodyear Tire & Rubber

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.

Earnings History for The Goodyear Tire & Rubber (NASDAQ:GT)

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