Teacher Retirement System of Texas Acquires New Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Teacher Retirement System of Texas bought a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,569 shares of the company's stock, valued at approximately $366,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after purchasing an additional 1,674 shares during the period. UMB Bank n.a. increased its holdings in shares of Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after acquiring an additional 1,748 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Goodyear Tire & Rubber by 1,799.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after acquiring an additional 3,868 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth about $46,000. Finally, Signaturefd LLC increased its holdings in shares of Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

GT traded up $0.34 on Monday, reaching $11.01. The company had a trading volume of 7,145,920 shares, compared to its average volume of 5,872,393. The company has a fifty day moving average of $10.97 and a 200-day moving average of $9.99. The company has a market capitalization of $3.15 billion, a P/E ratio of 13.11, a PEG ratio of 0.34 and a beta of 1.35. The company has a current ratio of 1.22, a quick ratio of 0.64 and a debt-to-equity ratio of 1.44. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $12.31.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the firm posted $0.10 EPS. The business's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BNP Paribas raised shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. BNP Paribas Exane raised shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price objective on the stock in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. Finally, Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $14.20.

Goodyear Tire & Rubber 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.