Retirement Systems of Alabama lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,130 shares of the company’s stock after selling 53,323 shares during the quarter. Retirement Systems of Alabama’s holdings in Goodyear Tire & Rubber were worth $5,085,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Headinvest LLC purchased a new position in shares of Goodyear Tire & Rubber in the third quarter valued at $34,000. Cerity Partners LLC purchased a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $156,000. American Trust acquired a new position in Goodyear Tire & Rubber during the third quarter worth about $140,000. Pathstone Family Office LLC purchased a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at about $141,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $168,000. Institutional investors and hedge funds own 84.19% of the company’s stock.
Goodyear Tire & Rubber Stock Performance
Shares of NASDAQ GT opened at $12.24 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.07 and a quick ratio of 0.55. The company has a market cap of $3.48 billion, a PE ratio of -5.08 and a beta of 1.86. The company has a 50-day simple moving average of $12.48 and a 200-day simple moving average of $13.16. The Goodyear Tire & Rubber Company has a 12 month low of $10.12 and a 12 month high of $16.50.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.16.
View Our Latest Research Report on GT
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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