VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in The Goodyear Tire & Rubber Company $GT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 64,600 shares of the company’s stock, valued at approximately $483,000.

Other hedge funds have also recently made changes to their positions in the company. Solstein Capital LLC acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $26,000. Ameritas Advisory Services LLC acquired a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock worth $29,000 after buying an additional 2,726 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Goodyear Tire & Rubber during the second quarter valued at $31,000. Finally, Signaturefd LLC grew its position in Goodyear Tire & Rubber by 125.6% during the second quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock valued at $47,000 after buying an additional 2,510 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $8.84 on Tuesday. The firm’s 50 day moving average is $8.25 and its two-hundred day moving average is $8.75. The Goodyear Tire & Rubber Company has a 52 week low of $6.51 and a 52 week high of $12.03. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $2.53 billion, a P/E ratio of -1.45, a P/E/G ratio of 0.87 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates 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 firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. Research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.