New York State Teachers Retirement System Sells 6,744 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

New York State Teachers Retirement System lessened its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,767 shares of the company’s stock after selling 6,744 shares during the period. New York State Teachers Retirement System’s holdings in Goodyear Tire & Rubber were worth $2,590,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GT. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $45,000. Newbridge Financial Services Group Inc. bought a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $54,000. Private Trust Co. NA grew its holdings in shares of Goodyear Tire & Rubber by 110.4% in the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock valued at $62,000 after acquiring an additional 3,700 shares in the last quarter. Apollon Wealth Management LLC bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $92,000. Finally, AM Squared Ltd bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $92,000. Institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

GT has been the subject of several recent analyst reports. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and a consensus target price of $12.98.

Goodyear Tire & Rubber Trading Down 5.4 %

Shares of GT stock opened at $9.98 on Friday. The firm has a 50 day moving average price of $9.04 and a two-hundred day moving average price of $8.89. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $2.84 billion, a PE ratio of 41.59 and a beta of 1.79. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. As a group, analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.