Teacher Retirement System of Texas Buys Shares of 39,569 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Teacher Retirement System of Texas purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,569 shares of the company’s stock, valued at approximately $366,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth $39,626,000. Maple Rock Capital Partners Inc. purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth about $16,875,000. Atlantic Investment Management Inc. purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth about $11,803,000. American Century Companies Inc. raised its stake in shares of Goodyear Tire & Rubber by 10.3% during the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after purchasing an additional 897,463 shares in the last quarter. Finally, Greenvale Capital LLP purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $6,750,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Goodyear Tire & Rubber Stock Up 0.9%

NASDAQ:GT opened at $10.91 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22. The company has a market cap of $3.12 billion, a PE ratio of 12.99, a PEG ratio of 0.34 and a beta of 1.35. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.58. The stock has a 50-day simple moving average of $10.97 and a 200 day simple moving average of $9.96.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 5.31% and a net margin of 1.30%. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Company 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.