The California State Teachers Retirement System reduced its holdings in International Game Technology PLC (NYSE:IGT – free report) by 38.8% in the first quarter, according to its latest 13F filing with the SEC. The fund sold 6,938 shares during the quarter to hold 10,948 shares of the company. The California State Teachers Retirement System's holdings of International Game Technology were worth $247,000 as of the latest SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bayesian Capital Management LP bought a new position in International Game Technology shares in the first quarter, valued at approximately $285,000. Price T. Rowe Associates Inc. increased its stake in International Game Technology by 14.6% in the first quarter. Price T. Rowe Associates Inc. now owns 30,965 shares of the company's stock, valued at $700,000, after purchasing an additional 3,935 shares in the last quarter. Lazard Asset Management LLC increased its stake in International Game Technology shares by 63.4% in the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company's stock, valued at $242.88 million, after purchasing an additional 4,170,813 shares in the last quarter. Gabelli Funds LLC increased its holdings in International Game Technology by 12.5% during the first quarter. Gabelli Funds LLC now holds 198,100 shares of the company's stock, valued at $4,475,000, after acquiring an additional 22,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in International Game Technology by 8.4% during the first quarter. Gamco Investors INC. ET AL now holds 285,105 shares of the company's stock, valued at $6,441,000, after acquiring an additional 22,105 shares during the period. Institutional investors and hedge funds hold 44.33% of the company's stock.
Analysts Set New Price Targets
IGT has been the topic of several analyst reports. Truist Financial lowered their price target on International Game Technology from $26.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, May 15th. Susquehanna lowered their price target on International Game Technology from $40.00 to $33.00 and gave the stock a “positive” rating in a report on Thursday, May 16th. StockNews.com lowered shares of International Game Technology from a “strong buy” rating to a “buy” rating in a research note on Friday, July 5th. Stifel Nicolaus raised their price target on International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, B. Riley reiterated a “buy” rating and a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, and five have issued a buy rating. According to data from MarketBeat.com, the stock currently has a “moderate buy” consensus rating with a consensus target price of $28.67.
Read the latest International Games Tech Report
International Gaming Technology Price Performance
NYSE IGT shares opened trading at $21.84 on Monday. The company's 50-day moving average price is $21.00 and its 200-day moving average price is $21.81. International Game Technology PLC's one-year low and high are $18.90 and $33.48. The company has a market capitalization of $4.35 billion, a P/E ratio of 20.80 and a beta of 1.98. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57.
International Game Technology (NYSE:IGT – Get free report ) last released its quarterly earnings data on Tuesday, July 30th. The company reported quarterly earnings per share (EPS) of $0.36, beating analysts' consensus estimates of $0.29 by $0.07. Revenues for the quarter were $1.05 billion, beating the consensus estimate of $1.06 billion. International Game Technology had an ROE of 19.95% and a net margin of 4.89%. During the same period last year, the company earned $0.45 per share. International Game Technology's quarterly revenue decreased 0.6% year over year. Research analysts expect International Game Technology PLC to post earnings per share of $1.43 for the current fiscal year.
International Game Technology Announces Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be paid a $0.20 dividend. This equates to a $0.80 dividend on an annualized basis, or a yield of 3.66%. The ex-dividend date is Tuesday, August 13th. International Game Technology's dividend payout ratio (DPR) is currently 76.19%.
International Game Technology Company Profile
(Free report)
International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, the United Kingdom, other European countries, and internationally. The company operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company also designs, sells, operates and leases point-of-sale machine suites that reconcile lottery funds between retailers and lottery authorities, provides online lottery transaction processing systems, produces instant ticket games, provides printing services such as instant ticket marketing plans, graphic design, programming, packaging, shipping and delivery services, and iLottery solutions and services.
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