Goodyear Tire & Rubber Co (NASDAQ:GT) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 730,342 shares of the company’s stock after buying an additional 15,342 shares during the period. California Public Employees Retirement System owned 0.30% of Goodyear Tire & Rubber worth $24,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Shore Management Inc. CT raised its holdings in Goodyear Tire & Rubber by 38.7% in the 3rd quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock valued at $133,796,000 after acquiring an additional 1,123,573 shares in the last quarter. LSV Asset Management increased its stake in shares of Goodyear Tire & Rubber by 6.6% in the 2nd quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock valued at $357,644,000 after purchasing an additional 634,919 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Goodyear Tire & Rubber by 94.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,296,130 shares of the company’s stock valued at $45,313,000 after purchasing an additional 628,221 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $15,827,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Goodyear Tire & Rubber by 10.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock valued at $151,903,000 after purchasing an additional 414,651 shares during the last quarter. 94.64% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Citigroup downgraded Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $36.00 in a report on Monday, October 30th. JPMorgan Chase & Co. cut their target price on Goodyear Tire & Rubber from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. Finally, Jefferies Group reissued a “buy” rating and issued a $36.00 price objective on shares of Goodyear Tire & Rubber in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $37.70.

In other Goodyear Tire & Rubber news, SVP Jean Claude Kihn sold 7,500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.12, for a total transaction of $240,900.00. Following the completion of the transaction, the senior vice president now directly owns 51,848 shares of the company’s stock, valued at $1,665,357.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Shares of Goodyear Tire & Rubber Co (GT) traded up $0.12 on Thursday, reaching $33.59. The company’s stock had a trading volume of 1,971,676 shares, compared to its average volume of 2,700,000. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. The company has a market cap of $8,270.00, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.71 and a beta of 1.53. Goodyear Tire & Rubber Co has a 1 year low of $28.81 and a 1 year high of $37.20.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. Goodyear Tire & Rubber had a return on equity of 15.88% and a net margin of 6.67%. Goodyear Tire & Rubber’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. analysts expect that Goodyear Tire & Rubber Co will post 2.88 earnings per share for the current year.

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About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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