Texas Permanent School Fund Has $2.86 Million Holdings in Goodyear Tire & Rubber Co (GT)

Texas Permanent School Fund lifted its stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) by 236.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,658 shares of the company’s stock after purchasing an additional 110,791 shares during the period. Texas Permanent School Fund owned about 0.07% of Goodyear Tire & Rubber worth $2,861,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Goodyear Tire & Rubber by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,952,083 shares of the company’s stock valued at $141,894,000 after acquiring an additional 253,943 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Goodyear Tire & Rubber by 30.9% during the 4th quarter. Bank of New York Mellon Corp now owns 5,158,198 shares of the company’s stock valued at $105,278,000 after acquiring an additional 1,218,993 shares in the last quarter. Geode Capital Management LLC grew its stake in Goodyear Tire & Rubber by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 3,515,759 shares of the company’s stock valued at $71,647,000 after acquiring an additional 226,311 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Goodyear Tire & Rubber by 1,711.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,329,973 shares of the company’s stock valued at $163,000 after acquiring an additional 3,146,166 shares in the last quarter. Finally, Newport Trust Co grew its stake in Goodyear Tire & Rubber by 1.4% during the 1st quarter. Newport Trust Co now owns 3,247,978 shares of the company’s stock valued at $58,951,000 after acquiring an additional 46,250 shares in the last quarter. 85.51% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on GT. BidaskClub lowered shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine lowered shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Thursday, May 9th. Zacks Investment Research lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 5th. Finally, Longbow Research lowered shares of Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a report on Monday, February 11th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Shares of GT stock traded down $0.61 during trading hours on Thursday, hitting $16.15. The company had a trading volume of 90,075 shares, compared to its average volume of 4,585,020. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.28. Goodyear Tire & Rubber Co has a fifty-two week low of $16.15 and a fifty-two week high of $26.53. The firm has a market cap of $3.78 billion, a P/E ratio of 7.00, a P/E/G ratio of -1.64 and a beta of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.74 billion. During the same period in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, research analysts predict that Goodyear Tire & Rubber Co will post 2.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be issued a $0.16 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.96%. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

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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. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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

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