Teachers Retirement System of The State of Kentucky Has $855,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 56.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,548 shares of the company’s stock after selling 127,610 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Goodyear Tire & Rubber were worth $855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in Goodyear Tire & Rubber by 9.5% in the second quarter. Assenagon Asset Management S.A. now owns 180,048 shares of the company’s stock valued at $2,044,000 after purchasing an additional 15,662 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $26,000. Bank of New York Mellon Corp raised its holdings in Goodyear Tire & Rubber by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after buying an additional 71,410 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Goodyear Tire & Rubber by 19.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,526 shares of the company’s stock valued at $880,000 after buying an additional 12,384 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Goodyear Tire & Rubber by 2.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 114,861 shares of the company’s stock worth $1,304,000 after buying an additional 2,262 shares during the period. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 4.0 %

Goodyear Tire & Rubber stock opened at $8.86 on Thursday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -8.52 and a beta of 1.77. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $14.97. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The firm has a 50 day moving average price of $9.32 and a two-hundred day moving average price of $9.66.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. Goodyear Tire & Rubber’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. Equities analysts predict that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

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.