State of New Jersey Common Pension Fund D Makes New Investment in The Goodyear Tire & Rubber Company $GT

State of New Jersey Common Pension Fund D purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 169,222 shares of the company’s stock, valued at approximately $1,755,000. State of New Jersey Common Pension Fund D owned 0.06% of Goodyear Tire & Rubber at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in Goodyear Tire & Rubber by 11.7% in the first quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock worth $99,666,000 after acquiring an additional 1,134,058 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Goodyear Tire & Rubber by 1.9% in the 1st quarter. Victory Capital Management Inc. now owns 5,247,677 shares of the company’s stock valued at $48,489,000 after purchasing an additional 99,933 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Goodyear Tire & Rubber by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company’s stock valued at $35,122,000 after purchasing an additional 62,499 shares during the period. Nuveen LLC purchased a new stake in Goodyear Tire & Rubber during the first quarter worth about $20,422,000. Finally, KLCM Advisors Inc. grew its position in Goodyear Tire & Rubber by 2.2% during the first quarter. KLCM Advisors Inc. now owns 1,808,910 shares of the company’s stock worth $16,714,000 after buying an additional 38,480 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HSBC reiterated a “hold” rating and set a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. BNP Paribas Exane reiterated a “neutral” rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. Hsbc Global Res lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. cut their price target on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $6.89 on Monday. The stock has a market capitalization of $1.97 billion, a P/E ratio of 4.85, a P/E/G ratio of 2.35 and a beta of 1.28. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The Goodyear Tire & Rubber Company has a 12-month low of $6.51 and a 12-month high of $12.03. The firm’s 50-day moving average is $7.78 and its two-hundred day moving average is $9.58.

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