Arizona State Retirement System Lowers Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Arizona State Retirement System cut its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,244 shares of the company’s stock after selling 1,457 shares during the period. Arizona State Retirement System’s holdings in Goodyear Tire & Rubber were worth $1,135,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ancora Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 71.4% during the 1st quarter. Ancora Advisors LLC now owns 2,400 shares of the company’s stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. First Manhattan Co. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $31,000. Headinvest LLC bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC increased its position in shares of Goodyear Tire & Rubber by 27.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,018 shares of the company’s stock valued at $44,000 after purchasing an additional 862 shares during the last quarter. Finally, CWM LLC increased its position in shares of Goodyear Tire & Rubber by 26.4% during the 3rd quarter. CWM LLC now owns 4,644 shares of the company’s stock valued at $58,000 after purchasing an additional 971 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and four 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 $17.16.

Goodyear Tire & Rubber Price Performance

GT opened at $12.13 on Tuesday. The business has a fifty day moving average of $12.69 and a 200 day moving average of $13.19. The Goodyear Tire & Rubber Company has a 52-week low of $10.12 and a 52-week high of $16.50. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.44 billion, a P/E ratio of -5.03 and a beta of 1.85.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the previous year, the business earned $0.07 EPS. Goodyear Tire & Rubber’s revenue was down 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.12 EPS for the current year.

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.