Louisiana State Employees Retirement System Makes New $550,000 Investment in The Goodyear Tire & Rubber Company $GT

Louisiana State Employees Retirement System bought a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 83,000 shares of the company’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Focus Partners Wealth acquired a new position in Goodyear Tire & Rubber in the third quarter valued at approximately $25,000. EFG International AG acquired a new stake in Goodyear Tire & Rubber during the fourth quarter worth $26,000. Los Angeles Capital Management LLC acquired a new stake in Goodyear Tire & Rubber during the fourth quarter worth $26,000. Parallel Advisors LLC raised its position in Goodyear Tire & Rubber by 55.5% in the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock valued at $62,000 after purchasing an additional 2,538 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in Goodyear Tire & Rubber by 29.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after purchasing an additional 1,749 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 1.3%

Shares of NASDAQ:GT opened at $7.02 on Wednesday. The firm has a market capitalization of $2.02 billion, a PE ratio of -0.97 and a beta of 1.12. The Goodyear Tire & Rubber Company has a 1 year low of $5.43 and a 1 year high of $11.79. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The firm’s 50-day moving average is $6.26 and its two-hundred day moving average is $7.51.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same quarter last year, the firm posted ($0.04) earnings per share. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. Analysts predict that The Goodyear Tire & Rubber Company will post -0.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GT shares. Citigroup lowered their price target on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, TD Cowen cut their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.54.

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.