Vanguard Group reduced its holdings in International Game Technology Inc. (NYSE:IGT – Free Report ) by 1.2% during the first quarter, according to its latest filing with the Securities and Exchange Commission. The fund sold 15,771 shares during the quarter to hold 1,307,815 shares of the company. Vanguard Group holds about 0.66% of International Game Technology Inc. shares, valued at $29,544,000, according to its latest filing with the Securities and Exchange Commission.
Other hedge funds and institutional investors also recently added to or reduced shares in IGT. Norges Bank bought shares of International Game Technology worth $35,011,000 in the fourth quarter. Wellington Management Group LLP increased its holdings in International Game Technology by 23.1% in the fourth quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company's stock, valued at $74,495,000, after purchasing an additional 509,722 shares during the period. Okabena Investment Services Inc. bought shares of International Game Technology worth approximately $1,397,000 in the fourth quarter. Beryl Capital Management LLC bought shares of International Game Technology worth approximately $16,431,000 in the fourth quarter. Finally, SG Americas Securities LLC increased its holdings in shares of International Game Technology by 10.8% in the first quarter. SG Americas Securities LLC now holds 8,607 shares of the company's stock, valued at $194,000, after purchasing an additional 836 shares during the period. 44.33% of the stock is now owned by institutional investors.
Analyst Rating Changes
IGT has been the topic of numerous analyst reports. Stifel Nicolaus increased their price target on International Game Technology from $26.00 to $30.00 and rated the stock a “buy” in a research note on Wednesday, July 31st. B. Riley re-rated International Game Technology to a “buy” with a price target of $30.00 in a research note on Friday, July 26th. StockNews.com lowered their price target on International Game Technology from a “strong buy” to a “buy” in a research note on Friday, July 5th. Truist Financial lowered their price target on International Game Technology from $26.00 to $23.00 and rated the stock a “hold” in a research note on Wednesday, May 15th. Finally, Susquehanna lowered their target price on shares of International Game Technology from $40.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and five have given it a buy rating. According to MarketBeat data, the stock currently has an average rating of a “moderate buy” and a consensus target price of $28.67.
Check out IGT's latest stock report
International Gaming Technology Price Performance
NYSE:IGT shares opened trading at $21.65 on Friday. The company's 50-day moving average price is $20.88 and its 200-day moving average price is $22.08. International Game Technology PLC's 12-month low is $18.90 and high is $33.48. The company's quick ratio is 0.67, current ratio is 0.84 and debt-to-equity ratio is 2.57. The company has a market capitalization of $4.31 billion, a P/E ratio of 20.62 and a beta of 1.98.
International Game Technology (NYSE:IGT – get free report ) announced its latest earnings results on Tuesday, July 30th. The company reported quarterly earnings per share (EPS) of $0.36, beating the consensus estimate of $0.29 by $0.07. The company's quarterly revenue was $1.05 billion, beating analyst expectations of $1.06 billion. International Game Technology had net margins of 4.89% and return on equity of 19.95%. The company's quarterly revenue was down 0.6% year over year. Year-over-year earnings per share were $0.45. Equity research analysts expect International Game Technology PLC to post EPS of $1.43 for the current year.
International Game Technology Dividend Announcement
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 dividend of $0.20. The ex-dividend date is Tuesday, August 13th. This equates to a dividend of $0.80 on an annualized basis, or a yield of 3.70%. International Game Technology's dividend payout ratio is currently 76.19%.
International Games Technology 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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