The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,909 shares of the company's stock after selling 24,359 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Goodyear Tire & Rubber worth $2,285,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at $349,000. Cidel Asset Management Inc. purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at $97,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at $54,000. Rhumbline Advisers boosted its stake in shares of Goodyear Tire & Rubber by 1.3% in the fourth quarter. Rhumbline Advisers now owns 975,955 shares of the company's stock valued at $8,784,000 after purchasing an additional 12,359 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after purchasing an additional 3,059 shares during the period. Institutional investors and hedge funds own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Down 1.1%

GT stock traded down $0.12 during mid-day trading on Friday, hitting $10.64. 5,312,166 shares of the company were exchanged, compared to its average volume of 5,434,081. The company has a market capitalization of $3.04 billion, a PE ratio of 44.34 and a beta of 1.40. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.58. The firm has a fifty day simple moving average of $10.50 and a 200 day simple moving average of $9.72.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the business posted $0.10 EPS. The company's quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GT has been the subject of several analyst reports. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. BNP Paribas raised shares of Goodyear Tire & Rubber to a "hold" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a report on Monday, March 31st. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Goodyear Tire & Rubber Company 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.