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

Key Points

• Strs Ohio purchased 98,900 shares of The Goodyear Tire & Rubber Company valued at approximately $914,000, marking its first-quarter investment in the company.
• Analysts have set a consensus price target of $11.93 for Goodyear shares, with ratings including one "Strong Buy," three "Buy," and five "Hold" ratings.
• Goodyear's recent quarterly earnings report showed a loss of ($0.17) per share, missing estimates by $0.31, with a revenue of $4.47 billion.

Strs Ohio acquired a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 98,900 shares of the company's stock, valued at approximately $914,000.

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

Analyst Ratings Changes

Several research firms recently commented on GT. BNP Paribas Exane reaffirmed a "neutral" rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. Hsbc Global Res downgraded shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. BNP Paribas lowered shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Finally, HSBC restated a "hold" rating and issued a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.93.

Goodyear Tire & Rubber Trading Down 1.1%

GT traded down $0.09 during midday trading on Monday, reaching $8.39. 6,196,014 shares of the company's stock traded hands, compared to its average volume of 6,519,503. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 0.75 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 52 week low of $7.80 and a 52 week high of $12.03. The firm has a fifty day moving average of $9.25 and a two-hundred day moving average of $9.99. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.31). The firm 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 business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

About Goodyear Tire & Rubber

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.