Texas Permanent School Fund Corp Has $2.83 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Texas Permanent School Fund Corp grew its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 249,633 shares of the company’s stock after buying an additional 1,475 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Goodyear Tire & Rubber were worth $2,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in Goodyear Tire & Rubber in the second quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $28,000. Mather Group LLC. increased its position in Goodyear Tire & Rubber by 4,526.3% in the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after purchasing an additional 2,580 shares during the period. Jones Financial Companies Lllp acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $33,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Goodyear Tire & Rubber in the second quarter worth about $40,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $7.84 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $15.24. The stock has a market cap of $2.23 billion, a P/E ratio of -3.47 and a beta of 1.70. The stock’s 50-day moving average price is $9.56 and its two-hundred day moving average price is $11.31.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted ($0.34) EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GT shares. Morgan Stanley started coverage on Goodyear Tire & Rubber in a research report on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price objective for the company. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Finally, StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and an average price target of $17.23.

About Goodyear Tire & Rubber

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.