New York State Teachers Retirement System Has $2.61 Million Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

New York State Teachers Retirement System lowered its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,511 shares of the company’s stock after selling 26,247 shares during the quarter. New York State Teachers Retirement System owned 0.10% of Goodyear Tire & Rubber worth $2,606,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Covestor Ltd raised its stake in shares of Goodyear Tire & Rubber by 33.6% in the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock valued at $70,000 after purchasing an additional 1,284 shares during the period. Texas Permanent School Fund Corp lifted its stake in Goodyear Tire & Rubber by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock valued at $2,833,000 after acquiring an additional 1,475 shares in the last quarter. Arizona State Retirement System lifted its stake in Goodyear Tire & Rubber by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock valued at $903,000 after acquiring an additional 1,621 shares in the last quarter. Innealta Capital LLC boosted its position in Goodyear Tire & Rubber by 12.2% during the 1st quarter. Innealta Capital LLC now owns 15,261 shares of the company’s stock worth $210,000 after acquiring an additional 1,654 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Goodyear Tire & Rubber by 5.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock worth $495,000 after acquiring an additional 1,925 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Stock Up 3.4 %

GT stock opened at $9.83 on Friday. The business’s fifty day moving average price is $8.36 and its two-hundred day moving average price is $10.18. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -9.45 and a beta of 1.69. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.69%. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period last year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

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.