Arizona State Retirement System lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Goodyear Tire & Rubber by 7.6% during the first quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock worth $511,113,000 after acquiring an additional 2,528,942 shares during the last quarter. Vanguard Group Inc. increased its stake in Goodyear Tire & Rubber by 1.6% during the first quarter. Vanguard Group Inc. now owns 28,349,435 shares of the company’s stock worth $405,113,000 after acquiring an additional 437,114 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Goodyear Tire & Rubber by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 12,260,862 shares of the company’s stock worth $175,213,000 after acquiring an additional 431,192 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Goodyear Tire & Rubber during the third quarter worth $125,650,000. Finally, State Street Corp increased its stake in Goodyear Tire & Rubber by 2.7% during the first quarter. State Street Corp now owns 10,052,612 shares of the company’s stock worth $110,780,000 after acquiring an additional 260,929 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.
Goodyear Tire & Rubber Price Performance
GT stock opened at $12.13 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $3.44 billion, a PE ratio of -5.03 and a beta of 1.85. The Goodyear Tire & Rubber Company has a 12-month low of $10.12 and a 12-month high of $16.50. The business’s fifty day moving average price is $12.69 and its 200 day moving average price is $13.19.
Wall Street Analyst Weigh In
Separately, StockNews.com raised 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.16.
About Goodyear Tire & Rubber
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.
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