Kentucky Retirement Systems Insurance Trust Fund Buys Shares of 8,743 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 4th quarter, Holdings Channel.com reports. The fund bought 8,743 shares of the company’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GT. Geode Capital Management LLC boosted its holdings in Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after acquiring an additional 86,227 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock worth $42,051,000 after acquiring an additional 4,633,368 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Goodyear Tire & Rubber by 13.4% in the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock worth $36,301,000 after acquiring an additional 484,198 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Goodyear Tire & Rubber by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock worth $31,267,000 after acquiring an additional 252,960 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its holdings in Goodyear Tire & Rubber by 59.4% in the fourth quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock worth $15,934,000 after acquiring an additional 659,635 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Finally, Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.98.

Goodyear Tire & Rubber Trading Up 2.8 %

Shares of NASDAQ:GT opened at $10.63 on Thursday. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.86. The company has a market capitalization of $3.03 billion, a PE ratio of 44.29 and a beta of 1.79. The business has a 50 day moving average of $9.03 and a two-hundred day moving average of $8.87. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.