State of Alaska Department of Revenue Sells 3,065 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

State of Alaska Department of Revenue lessened its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.1% during the fourth quarter, Holdings Channel reports. The fund owned 30,621 shares of the company’s stock after selling 3,065 shares during the period. State of Alaska Department of Revenue’s holdings in Goodyear Tire & Rubber were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Goodyear Tire & Rubber in the 3rd quarter valued at $125,650,000. Assenagon Asset Management S.A. grew its holdings in Goodyear Tire & Rubber by 880.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock valued at $8,178,000 after buying an additional 512,875 shares in the last quarter. Aigen Investment Management LP acquired a new position in Goodyear Tire & Rubber in the 3rd quarter valued at $207,000. American Century Companies Inc. grew its holdings in shares of Goodyear Tire & Rubber by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock worth $59,348,000 after purchasing an additional 953,047 shares in the last quarter. Finally, Alberta Investment Management Corp grew its holdings in shares of Goodyear Tire & Rubber by 1,424.6% during the 2nd quarter. Alberta Investment Management Corp now owns 537,667 shares of the company’s stock worth $7,355,000 after purchasing an additional 502,400 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and a consensus target price of $17.16.

Goodyear Tire & Rubber Stock Performance

GT opened at $12.27 on Friday. The firm has a market cap of $3.48 billion, a P/E ratio of -5.09 and a beta of 1.85. 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 debt-to-equity ratio of 1.41, a quick ratio of 0.55 and a current ratio of 1.07. The business’s fifty day moving average is $12.72 and its 200-day moving average is $13.17.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.11. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.38 billion. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. Goodyear Tire & Rubber’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.12 EPS for the current fiscal 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.