State of New Jersey Common Pension Fund D Has $2.59 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

State of New Jersey Common Pension Fund D lessened its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 180,556 shares of the company’s stock after selling 12,818 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Goodyear Tire & Rubber were worth $2,586,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Inspire Investing LLC lifted its stake in shares of Goodyear Tire & Rubber by 3.0% in the 3rd quarter. Inspire Investing LLC now owns 28,396 shares of the company’s stock valued at $353,000 after acquiring an additional 818 shares during the last quarter. CWM LLC lifted its stake in shares of Goodyear Tire & Rubber by 26.4% in the 3rd quarter. CWM LLC now owns 4,644 shares of the company’s stock valued at $58,000 after acquiring an additional 971 shares during the last quarter. Advisor Partners II LLC lifted its stake in shares of Goodyear Tire & Rubber by 8.9% in the 3rd quarter. Advisor Partners II LLC now owns 13,743 shares of the company’s stock valued at $171,000 after acquiring an additional 1,127 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Goodyear Tire & Rubber by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 80,701 shares of the company’s stock valued at $1,003,000 after acquiring an additional 1,138 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Goodyear Tire & Rubber by 3.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock valued at $448,000 after acquiring an additional 1,277 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Down 1.3 %

Shares of NASDAQ:GT opened at $11.96 on Wednesday. The firm has a market cap of $3.40 billion, a P/E ratio of -4.96 and a beta of 1.85. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41. The Goodyear Tire & Rubber Company has a 12-month low of $10.12 and a 12-month high of $16.50. The business has a fifty day simple moving average of $12.50 and a 200 day simple moving average of $13.17.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.11. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.38 billion. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. Goodyear Tire & Rubber’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. Analysts predict that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.16.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.