The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Rating) by 20.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 161,306 shares of the company’s stock after selling 40,266 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Goodyear Tire & Rubber were worth $1,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp boosted its stake in Goodyear Tire & Rubber by 5.1% during the second quarter. M&T Bank Corp now owns 18,630 shares of the company’s stock worth $197,000 after buying an additional 896 shares during the period. Creative Planning boosted its stake in shares of Goodyear Tire & Rubber by 8.1% in the second quarter. Creative Planning now owns 13,250 shares of the company’s stock valued at $142,000 after purchasing an additional 998 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Goodyear Tire & Rubber by 7.5% in the second quarter. DAVENPORT & Co LLC now owns 14,325 shares of the company’s stock valued at $153,000 after purchasing an additional 1,000 shares during the period. Ancora Advisors LLC boosted its stake in shares of Goodyear Tire & Rubber by 142.9% in the first quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the period. Finally, Xponance Inc. boosted its stake in shares of Goodyear Tire & Rubber by 3.0% in the third quarter. Xponance Inc. now owns 44,738 shares of the company’s stock valued at $451,000 after purchasing an additional 1,288 shares during the period. 79.34% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Up 3.2 %

GT opened at $11.46 on Friday. The firm has a 50 day moving average price of $10.84 and a 200 day moving average price of $11.77. The company has a market cap of $3.24 billion, a PE ratio of 3.82 and a beta of 1.84. The Goodyear Tire & Rubber Company has a 1 year low of $9.66 and a 1 year high of $22.66. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.68 and a current ratio of 1.33.

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.21). Goodyear Tire & Rubber had a return on equity of 9.74% and a net margin of 4.19%. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GT. Argus lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th. Citigroup cut their price objective on shares of Goodyear Tire & Rubber from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Goodyear Tire & Rubber in a report on Thursday. They set a “sell” rating on the stock. Finally, StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.19.

Goodyear Tire & Rubber Company Profile

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Goodyear Tire & Rubber Co engages in the development, manufactures, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.