New York State Teachers Retirement System Has $5.45 Million Holdings in Goodyear Tire & Rubber Co (NASDAQ:GT)

New York State Teachers Retirement System lessened its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 356,485 shares of the company’s stock after selling 1,700 shares during the period. New York State Teachers Retirement System owned about 0.15% of Goodyear Tire & Rubber worth $5,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fox Run Management L.L.C. bought a new stake in Goodyear Tire & Rubber during the second quarter worth approximately $196,000. NEXT Financial Group Inc lifted its holdings in shares of Goodyear Tire & Rubber by 7,887.3% during the second quarter. NEXT Financial Group Inc now owns 23,323 shares of the company’s stock worth $357,000 after buying an additional 23,031 shares during the last quarter. Fruth Investment Management lifted its holdings in shares of Goodyear Tire & Rubber by 1.5% during the second quarter. Fruth Investment Management now owns 68,090 shares of the company’s stock worth $1,041,000 after buying an additional 1,000 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Goodyear Tire & Rubber by 102.8% during the second quarter. Nisa Investment Advisors LLC now owns 70,575 shares of the company’s stock worth $1,080,000 after buying an additional 35,775 shares during the last quarter. Finally, Exane Derivatives lifted its holdings in shares of Goodyear Tire & Rubber by 313.8% during the second quarter. Exane Derivatives now owns 66,202 shares of the company’s stock worth $1,013,000 after buying an additional 50,203 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Shares of NASDAQ GT traded down $0.49 during trading hours on Friday, reaching $12.73. The stock had a trading volume of 3,776,570 shares, compared to its average volume of 3,381,472. The stock has a fifty day moving average price of $14.81. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $3.19 billion, a P/E ratio of 5.49 and a beta of 1.72. Goodyear Tire & Rubber Co has a twelve month low of $12.56 and a twelve month high of $25.41.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Research analysts predict that Goodyear Tire & Rubber Co will post 1.55 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.64 annualized dividend and a yield of 5.03%. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

GT has been the subject of a number of research analyst reports. ValuEngine lowered Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Thursday, May 9th. Citigroup cut their target price on Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday. BidaskClub lowered Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. KeyCorp initiated coverage on Goodyear Tire & Rubber in a research note on Wednesday, May 22nd. They issued a “sector weight” rating and a $14.93 target price for the company. Finally, Morgan Stanley set a $14.00 target price on Goodyear Tire & Rubber and gave the company a “hold” rating in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus target price of $19.46.

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.

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

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