California Public Employees Retirement System Lowers Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

California Public Employees Retirement System decreased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 421,512 shares of the company's stock after selling 44,065 shares during the period. California Public Employees Retirement System owned 0.15% of Goodyear Tire & Rubber worth $3,794,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of GT. Fidelity D & D Bancorp Inc. grew its holdings in Goodyear Tire & Rubber by 3.2% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company's stock valued at $283,000 after buying an additional 1,000 shares in the last quarter. Truist Financial Corp increased its holdings in Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after acquiring an additional 1,115 shares during the period. Amalgamated Bank lifted its stake in Goodyear Tire & Rubber by 0.9% in the 4th quarter. Amalgamated Bank now owns 127,390 shares of the company's stock worth $1,147,000 after purchasing an additional 1,156 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Goodyear Tire & Rubber by 11.3% in the 4th quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock valued at $110,000 after purchasing an additional 1,209 shares during the period. Finally, Barnett & Company Inc. grew its position in shares of Goodyear Tire & Rubber by 1.4% during the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock valued at $861,000 after purchasing an additional 1,300 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft raised 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. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 target price for the company. Finally, Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and a consensus target price of $13.78.

Goodyear Tire & Rubber Trading Down 2.3 %

Shares of NASDAQ:GT traded down $0.22 during trading on Monday, reaching $9.45. 489,043 shares of the company traded hands, compared to its average volume of 6,154,745. 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 52-week low of $7.27 and a 52-week high of $13.26. The business's fifty day moving average is $9.23 and its 200-day moving average is $9.15. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 39.35 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.91 billion. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

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.