98,900 Shares in The Goodyear Tire & Rubber Company $GT Bought by Strs Ohio

Strs Ohio purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 98,900 shares of the company’s stock, valued at approximately $914,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Goodyear Tire & Rubber by 147.5% in the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock valued at $26,000 after buying an additional 1,674 shares during the last quarter. UMB Bank n.a. boosted its position in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company’s stock valued at $29,000 after buying an additional 1,748 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Goodyear Tire & Rubber in the 1st quarter valued at about $33,000. Farther Finance Advisors LLC lifted its position in shares of Goodyear Tire & Rubber by 1,799.1% during the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock worth $37,000 after purchasing an additional 3,868 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Goodyear Tire & Rubber by 72.8% during the first quarter. Parallel Advisors LLC now owns 5,822 shares of the company’s stock worth $54,000 after purchasing an additional 2,452 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on GT shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $17.00 price target (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. BNP Paribas Exane reiterated a “neutral” rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. HSBC restated a “hold” rating and issued a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 11th. Finally, Hsbc Global Res cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.93.

Goodyear Tire & Rubber Stock Up 0.9%

Goodyear Tire & Rubber stock opened at $8.61 on Friday. The company has a market capitalization of $2.46 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.75 and a beta of 1.37. The firm’s fifty day simple moving average is $9.36 and its 200-day simple moving average is $9.98. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The Goodyear Tire & Rubber Company has a 1-year low of $7.80 and a 1-year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.31). The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.50 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

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.