VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in The Goodyear Tire & Rubber Company $GT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 64,600 shares of the company’s stock, valued at approximately $483,000.

Other hedge funds also recently modified their holdings of the company. Chelsea Counsel Co. purchased a new position in Goodyear Tire & Rubber during the 2nd quarter valued at about $1,225,000. Strs Ohio bought a new stake in Goodyear Tire & Rubber during the first quarter valued at approximately $914,000. Econ Financial Services Corp purchased a new position in Goodyear Tire & Rubber in the second quarter worth $923,000. EVR Research LP bought a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $10,370,000. Finally, JPMorgan Chase & Co. raised its position in Goodyear Tire & Rubber by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,518 shares of the company’s stock worth $21,171,000 after purchasing an additional 247,609 shares during the period. Institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Citigroup cut their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Morgan Stanley raised their price target on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research note on Friday, November 28th. JPMorgan Chase & Co. reduced their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Finally, Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.85.

Goodyear Tire & Rubber Trading Down 0.9%

Shares of GT opened at $8.84 on Tuesday. The Goodyear Tire & Rubber Company has a fifty-two week low of $6.51 and a fifty-two week high of $12.03. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.71 and a current ratio of 1.27. The company’s fifty day moving average is $8.25 and its 200 day moving average is $8.75. The stock has a market capitalization of $2.53 billion, a PE ratio of -1.45, a P/E/G ratio of 0.87 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.67 billion. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.