New York State Common Retirement Fund Buys 25,223 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

New York State Common Retirement Fund grew its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 17.9% in the fourth quarter, Holdings Channel reports. The fund owned 166,014 shares of the company’s stock after acquiring an additional 25,223 shares during the quarter. New York State Common Retirement Fund’s holdings in Goodyear Tire & Rubber were worth $2,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GT. Headinvest LLC bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at approximately $34,000. American Trust bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at approximately $140,000. Pathstone Family Office LLC bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at approximately $141,000. Cerity Partners LLC bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $156,000. Finally, Cornerstone Investment Partners LLC bought a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $168,000. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Up 0.1 %

GT opened at $12.42 on Wednesday. The company has a 50 day moving average of $12.51 and a 200 day moving average of $13.16. The company has a market cap of $3.53 billion, a PE ratio of -5.15 and a beta of 1.86. The Goodyear Tire & Rubber Company has a 12 month low of $10.94 and a 12 month high of $16.50. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, May 6th. The company reported $0.10 EPS for the quarter. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned ($0.29) EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.16.

Goodyear Tire & Rubber Company 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.