California Public Employees Retirement System Has $3.79 Million Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

California Public Employees Retirement System trimmed its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 421,512 shares of the company’s stock after selling 44,065 shares during the period. California Public Employees Retirement System owned about 0.15% of Goodyear Tire & Rubber worth $3,794,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Allworth Financial LP boosted its holdings in Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after acquiring an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $45,000. Signaturefd LLC increased its position in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth about $79,000. 84.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GT shares. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Monday, March 31st. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 price objective for the company. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Performance

GT opened at $8.48 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The company’s fifty day moving average price is $9.17 and its two-hundred day moving average price is $9.11. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 35.33 and a beta of 1.49. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $13.48.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Company 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.