Teachers Retirement System of The State of Kentucky Has $855,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 56.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,548 shares of the company’s stock after selling 127,610 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Goodyear Tire & Rubber were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GT. Victory Capital Management Inc. grew its position in shares of Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after purchasing an additional 4,633,368 shares during the last quarter. AQR Capital Management LLC grew its holdings in Goodyear Tire & Rubber by 91.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock valued at $28,203,000 after buying an additional 1,211,519 shares in the last quarter. American Century Companies Inc. increased its position in Goodyear Tire & Rubber by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock worth $82,376,000 after buying an additional 1,013,550 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter worth $8,492,000. Finally, Bank of Montreal Can boosted its position in shares of Goodyear Tire & Rubber by 323.6% in the second quarter. Bank of Montreal Can now owns 976,078 shares of the company’s stock valued at $11,108,000 after acquiring an additional 745,636 shares during the period. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Down 4.0 %

GT stock opened at $8.86 on Thursday. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $14.97. The business has a 50-day simple moving average of $9.32 and a 200 day simple moving average of $9.66. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The company has a market cap of $2.52 billion, a PE ratio of -8.52 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.25 by $0.12. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th.

Goodyear Tire & Rubber 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.