Way to fix outward dent in rim?
Get an adjustable wrench and a small piece of cardboard. Smash the cardboard as flat as you can and fold it over the bead of the rim- this keeps the wrench from gouging the aluminum rim. Adjust the adjustable wrench down as far as you can while still able to slide it over the cardboard that's protecting the rim. Now, very gently torque the dent back straight with the wrench- it won't take much effort. 

This will work for small deformations only. If you see any further indication of damage after doing this, such as a crack in the rim, don't ride it.