Teacher Retirement System of Texas Grows Position in The Goodyear Tire & Rubber Company $GT

Teacher Retirement System of Texas boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 45.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,614 shares of the company’s stock after buying an additional 18,045 shares during the period. Teacher Retirement System of Texas’ holdings in Goodyear Tire & Rubber were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GT. Chelsea Counsel Co. acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter worth about $1,225,000. Strs Ohio purchased a new stake in Goodyear Tire & Rubber during the 1st quarter valued at approximately $914,000. CenterBook Partners LP purchased a new stake in Goodyear Tire & Rubber during the 1st quarter valued at approximately $13,413,000. PNC Financial Services Group Inc. lifted its position in Goodyear Tire & Rubber by 1,285.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 317,743 shares of the company’s stock worth $2,936,000 after acquiring an additional 294,816 shares during the period. Finally, Natixis Advisors LLC purchased a new position in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $312,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $7.57 on Friday. The firm has a market capitalization of $2.17 billion, a PE ratio of 5.33, a P/E/G ratio of 2.35 and a beta of 1.32. The Goodyear Tire & Rubber Company has a 52 week low of $6.51 and a 52 week high of $12.03. The firm’s 50-day simple moving average is $7.69 and its 200 day simple moving average is $9.50. The company has a quick ratio of 0.63, a current ratio of 1.15 and a debt-to-equity ratio of 1.24.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on GT. Deutsche Bank Aktiengesellschaft cut their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 11th. BNP Paribas Exane restated a “neutral” rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. Citigroup initiated coverage on shares of Goodyear Tire & Rubber in a report on Monday, September 8th. They issued a “neutral” rating and a $10.00 target price on the stock. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.50.

Goodyear Tire & Rubber Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.