Louisiana State Employees Retirement System Buys New Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Louisiana State Employees Retirement System bought a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 79,600 shares of the company’s stock, valued at approximately $1,140,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Headinvest LLC purchased a new position in Goodyear Tire & Rubber in the third quarter valued at approximately $34,000. CWM LLC increased its stake in Goodyear Tire & Rubber by 26.4% in 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 increased its stake in Goodyear Tire & Rubber by 37.5% in the third 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 last quarter. Cerity Partners LLC purchased a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $156,000. Finally, American Trust purchased a new position in Goodyear Tire & Rubber in the third quarter valued at approximately $140,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $12.05 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41. The firm has a market cap of $3.42 billion, a PE ratio of -5.00 and a beta of 1.85. The company’s 50 day simple moving average is $12.52 and its 200-day simple moving average is $13.18. The Goodyear Tire & Rubber Company has a 12-month low of $10.12 and a 12-month high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.11. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period last year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.