Nisa Investment Advisors LLC Purchases 932 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Nisa Investment Advisors LLC lifted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,766 shares of the company’s stock after purchasing an additional 932 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Valeo Financial Advisors LLC purchased a new stake in shares of Goodyear Tire & Rubber during the 1st quarter worth approximately $139,000. M&T Bank Corp grew its stake in Goodyear Tire & Rubber by 24.1% in the 1st quarter. M&T Bank Corp now owns 62,880 shares of the company’s stock valued at $581,000 after buying an additional 12,193 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Goodyear Tire & Rubber in the 1st quarter valued at approximately $33,000. Principal Financial Group Inc. grew its stake in Goodyear Tire & Rubber by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 660,560 shares of the company’s stock valued at $6,104,000 after buying an additional 6,296 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Goodyear Tire & Rubber in the 1st quarter valued at approximately $366,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 0.9%

Shares of NASDAQ:GT opened at $10.91 on Friday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.34 and a beta of 1.35. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.58. The company has a quick ratio of 0.64, a current ratio of 1.22 and a debt-to-equity ratio of 1.44. The firm’s 50 day moving average price is $10.97 and its 200 day moving average price is $9.96.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. JPMorgan Chase & Co. restated an “overweight” rating and set a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. BNP Paribas raised shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday, March 31st. Finally, BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $14.20.

Goodyear Tire & Rubber Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.