New York State Teachers Retirement System Sells 17,067 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

New York State Teachers Retirement System trimmed its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,758 shares of the company’s stock after selling 17,067 shares during the period. New York State Teachers Retirement System owned about 0.12% of Goodyear Tire & Rubber worth $4,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GT. Ancora Advisors LLC raised its stake in Goodyear Tire & Rubber by 71.4% in the first quarter. Ancora Advisors LLC now owns 2,400 shares of the company’s stock worth $26,000 after buying an additional 1,000 shares in the last quarter. First Manhattan Co. bought a new position in Goodyear Tire & Rubber in the fourth quarter worth about $31,000. Headinvest LLC bought a new position in Goodyear Tire & Rubber in the third quarter worth about $34,000. Steward Partners Investment Advisory LLC raised its stake in Goodyear Tire & Rubber by 27.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 4,018 shares of the company’s stock worth $44,000 after buying an additional 862 shares in the last quarter. Finally, CWM LLC raised its stake in Goodyear Tire & Rubber by 26.4% in the third quarter. CWM LLC now owns 4,644 shares of the company’s stock worth $58,000 after buying an additional 971 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $12.27 on Friday. The stock has a market cap of $3.48 billion, a PE ratio of -5.09 and a beta of 1.85. 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 Goodyear Tire & Rubber Company has a fifty-two week low of $10.12 and a fifty-two week high of $16.50. The firm’s 50-day simple moving average is $12.72 and its two-hundred day simple moving average is $13.18.

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

Analyst Upgrades and Downgrades

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