New York State Teachers Retirement System Raises Position in The Goodyear Tire & Rubber Company $GT

New York State Teachers Retirement System lifted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,125 shares of the company’s stock after buying an additional 28,750 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Goodyear Tire & Rubber worth $3,361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Goodyear Tire & Rubber by 11.7% in the first quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock worth $99,666,000 after buying an additional 1,134,058 shares during the period. Victory Capital Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 1.9% in the first quarter. Victory Capital Management Inc. now owns 5,247,677 shares of the company’s stock worth $48,489,000 after buying an additional 99,933 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company’s stock worth $35,122,000 after buying an additional 62,499 shares during the period. Nuveen LLC acquired a new position in shares of Goodyear Tire & Rubber in the first quarter worth about $20,422,000. Finally, KLCM Advisors Inc. lifted its stake in shares of Goodyear Tire & Rubber by 2.2% in the first quarter. KLCM Advisors Inc. now owns 1,808,910 shares of the company’s stock worth $16,714,000 after acquiring an additional 38,480 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the topic of several recent analyst reports. Citigroup initiated coverage on Goodyear Tire & Rubber in a research note on Monday, September 8th. They issued a “neutral” rating and a $10.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. BNP Paribas Exane reiterated a “neutral” rating and issued a $9.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Wednesday, October 8th. Finally, HSBC reiterated a “hold” rating and issued a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

Goodyear Tire & Rubber Trading Up 2.6%

Shares of NASDAQ GT opened at $7.04 on Tuesday. The stock’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $9.72. The Goodyear Tire & Rubber Company has a 52-week low of $6.51 and a 52-week high of $12.03. The stock has a market capitalization of $2.01 billion, a P/E ratio of 4.96, a PEG ratio of 1.85 and a beta of 1.28. 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 quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.31). Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the previous year, the company earned $0.19 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

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.