Louisiana State Employees Retirement System Takes Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Louisiana State Employees Retirement System acquired a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 79,600 shares of the company's stock, valued at approximately $1,140,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headinvest LLC bought a new position in shares of Goodyear Tire & Rubber in the third quarter valued at $34,000. CWM LLC lifted its holdings in shares of Goodyear Tire & Rubber by 26.4% during the third quarter. CWM LLC now owns 4,644 shares of the company's stock valued at $58,000 after purchasing an additional 971 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Goodyear Tire & Rubber by 37.5% in the 3rd quarter. IFP Advisors Inc now owns 4,897 shares of the company's stock valued at $61,000 after purchasing an additional 1,336 shares during the period. Cerity Partners LLC acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $156,000. Finally, American Trust purchased a new position in Goodyear Tire & Rubber in the 3rd quarter worth about $140,000. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT traded down $0.12 on Wednesday, hitting $11.93. 2,221,869 shares of the company were exchanged, compared to its average volume of 3,676,603. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.55 and a current ratio of 1.07. The company's 50 day moving average price is $12.52 and its two-hundred day moving average price is $13.18. The Goodyear Tire & Rubber Company has a one year low of $10.12 and a one year high of $16.50. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -4.95 and a beta of 1.85.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.36 by $0.11. The firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.38 billion. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. Goodyear Tire & Rubber's quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. Research analysts expect that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.16.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.