The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 132.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,158 shares of the company’s stock after purchasing an additional 127,610 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.08% of Goodyear Tire & Rubber worth $3,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new position in Goodyear Tire & Rubber during the fourth quarter valued at $33,000. Kapitalo Investimentos Ltda purchased a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $72,000. Covestor Ltd grew its position in Goodyear Tire & Rubber by 33.6% during the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock worth $70,000 after purchasing an additional 1,284 shares during the period. Finally, EntryPoint Capital LLC raised its stake in shares of Goodyear Tire & Rubber by 169.5% during the 1st quarter. EntryPoint Capital LLC now owns 8,609 shares of the company’s stock valued at $118,000 after buying an additional 5,415 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

GT traded down $0.59 during trading on Friday, hitting $9.25. The company’s stock had a trading volume of 12,751,518 shares, compared to its average volume of 4,849,863. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -4.09 and a beta of 1.74. The Goodyear Tire & Rubber Company has a twelve month low of $9.01 and a twelve month high of $15.24. The business’s fifty day simple moving average is $11.56 and its 200 day simple moving average is $12.36. The company has a current ratio of 1.06, a quick ratio of 0.60 and a debt-to-equity ratio of 1.41.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.34) EPS. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GT has been the topic of a number of recent research reports. HSBC lowered their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Company Profile

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.