The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 355,130 shares of the company’s stock after selling 53,323 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Goodyear Tire & Rubber worth $5,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GT. Inspire Investing LLC lifted its position in shares of Goodyear Tire & Rubber by 3.0% during the 3rd quarter. Inspire Investing LLC now owns 28,396 shares of the company’s stock valued at $353,000 after buying an additional 818 shares in the last quarter. Advisor Partners II LLC lifted its holdings in Goodyear Tire & Rubber by 8.9% during the third quarter. Advisor Partners II LLC now owns 13,743 shares of the company’s stock valued at $171,000 after purchasing an additional 1,127 shares in the last quarter. Arizona State Retirement System grew its position in shares of Goodyear Tire & Rubber by 1.4% in the third quarter. Arizona State Retirement System now owns 80,701 shares of the company’s stock valued at $1,003,000 after purchasing an additional 1,138 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Goodyear Tire & Rubber by 3.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock worth $448,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Goodyear Tire & Rubber by 3.3% during the 3rd quarter. Xponance Inc. now owns 55,817 shares of the company’s stock worth $694,000 after purchasing an additional 1,774 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 0.8 %

GT stock opened at $12.24 on Monday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -5.08 and a beta of 1.86. The firm has a 50-day moving average of $12.48 and a two-hundred day moving average of $13.16. The Goodyear Tire & Rubber Company has a 12 month low of $10.12 and a 12 month high of $16.50. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41.

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

Analyst Ratings Changes

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

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.