158,146 Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 158,146 shares of the company's stock, valued at approximately $1,423,000. Public Employees Retirement System of Ohio owned approximately 0.06% of Goodyear Tire & Rubber at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brevan Howard Capital Management LP purchased a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $606,000. Norges Bank purchased a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $39,626,000. Capula Management Ltd purchased a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $330,000. Truist Financial Corp increased its position in Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after buying an additional 1,115 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Goodyear Tire & Rubber by 65.9% in the fourth quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock worth $2,017,000 after buying an additional 88,993 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a research report on Monday, March 31st. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. Wall Street Zen cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Finally, BNP Paribas upgraded Goodyear Tire & Rubber to a "hold" rating in a research report on Saturday, May 24th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Goodyear Tire & Rubber Stock Performance

GT traded down $0.12 on Friday, reaching $10.64. 5,312,166 shares of the stock were exchanged, compared to its average volume of 5,434,081. The firm has a market capitalization of $3.04 billion, a PE ratio of 44.34 and a beta of 1.42. The company's 50-day moving average price is $10.50 and its 200 day moving average price is $9.72. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.58.

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