LGT Group Foundation Has $684,000 Position in International Game Technology PLC (NYSE:IGT)

LGT Group Foundation cut its position in International Game Technology PLC (NYSE:IGT) by 16.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,723 shares of the company’s stock after selling 7,560 shares during the quarter. LGT Group Foundation’s holdings in International Game Technology were worth $684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in IGT. Hotchkis & Wiley Capital Management LLC increased its position in International Game Technology by 80.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock worth $25,616,000 after purchasing an additional 537,330 shares in the last quarter. FMR LLC increased its position in International Game Technology by 19.4% during the 3rd quarter. FMR LLC now owns 3,050,447 shares of the company’s stock worth $64,975,000 after purchasing an additional 495,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in International Game Technology by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company’s stock worth $24,116,000 after purchasing an additional 164,935 shares in the last quarter. Barclays PLC increased its position in International Game Technology by 49.1% during the 3rd quarter. Barclays PLC now owns 291,626 shares of the company’s stock worth $6,212,000 after purchasing an additional 96,019 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in International Game Technology during the 3rd quarter worth approximately $1,636,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

International Game Technology Trading Down 0.1 %

IGT opened at $17.72 on Tuesday. International Game Technology PLC has a fifty-two week low of $16.42 and a fifty-two week high of $26.44. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 29.53 and a beta of 1.91. The company’s 50 day moving average price is $17.37 and its two-hundred day moving average price is $19.42.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Tuesday, March 11th. International Game Technology’s dividend payout ratio is currently 46.78%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IGT shares. Truist Financial reduced their target price on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, International Game Technology has an average rating of “Moderate Buy” and a consensus price target of $28.00.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.