Teacher Retirement System of Texas Cuts Holdings in Goodyear Tire & Rubber Co (GT)

Teacher Retirement System of Texas lowered its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,620 shares of the company’s stock after selling 20,851 shares during the period. Teacher Retirement System of Texas owned 0.08% of Goodyear Tire & Rubber worth $3,809,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Financial Counselors Inc. raised its stake in shares of Goodyear Tire & Rubber by 0.4% during the fourth quarter. Financial Counselors Inc. now owns 144,076 shares of the company’s stock valued at $2,941,000 after acquiring an additional 517 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Goodyear Tire & Rubber by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 58,014 shares of the company’s stock valued at $1,183,000 after acquiring an additional 632 shares during the last quarter. TD Asset Management Inc. raised its stake in shares of Goodyear Tire & Rubber by 0.9% during the fourth quarter. TD Asset Management Inc. now owns 69,256 shares of the company’s stock valued at $1,414,000 after acquiring an additional 638 shares during the last quarter. Comerica Bank raised its stake in shares of Goodyear Tire & Rubber by 1.3% during the fourth quarter. Comerica Bank now owns 51,019 shares of the company’s stock valued at $1,065,000 after acquiring an additional 676 shares during the last quarter. Finally, CSat Investment Advisory L.P. raised its stake in shares of Goodyear Tire & Rubber by 58.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock valued at $50,000 after acquiring an additional 914 shares during the last quarter. Hedge funds and other institutional investors own 88.47% of the company’s stock.

A number of equities analysts recently weighed in on GT shares. ValuEngine raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Monday, January 21st. Zacks Investment Research downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 5th. BidaskClub raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Jefferies Financial Group reissued a “buy” rating and set a $25.00 target price on shares of Goodyear Tire & Rubber in a research note on Tuesday, February 5th. Finally, Argus downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Goodyear Tire & Rubber currently has a consensus rating of “Hold” and an average target price of $22.00.

In other Goodyear Tire & Rubber news, Director Werner Geissler acquired 35,000 shares of Goodyear Tire & Rubber stock in a transaction dated Wednesday, February 13th. The stock was purchased at an average cost of $18.65 per share, for a total transaction of $652,750.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $932,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

GT opened at $19.24 on Friday. Goodyear Tire & Rubber Co has a 1-year low of $17.30 and a 1-year high of $26.53. The company has a quick ratio of 0.64, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of -1.94 and a beta of 1.50.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.13. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. On average, equities analysts predict that Goodyear Tire & Rubber Co will post 2.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, April 30th. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 27.59%.

ILLEGAL ACTIVITY WARNING: “Teacher Retirement System of Texas Cuts Holdings in Goodyear Tire & Rubber Co (GT)” was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.baseballdailydigest.com/news/2019/04/27/teacher-retirement-system-of-texas-sells-20851-shares-of-goodyear-tire-rubber-co-gt.html.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

Further Reading: What is Compound Interest?

Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.