Industrial Alliance Investment Management Inc. Buys 1,160 Shares of International Game Technology PLC (NYSE:IGT)

Industrial Alliance Investment Management Inc. raised its stake in shares of International Game Technology PLC (NYSE:IGT) by 100.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,310 shares of the company’s stock after purchasing an additional 1,160 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in International Game Technology were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in International Game Technology by 6.4% during the 1st quarter. Bank of New York Mellon Corp now owns 13,871,989 shares of the company’s stock valued at $313,368,000 after buying an additional 838,622 shares during the period. Lazard Asset Management LLC raised its stake in shares of International Game Technology by 63.4% in the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock valued at $242,880,000 after acquiring an additional 4,170,813 shares during the period. Capital Research Global Investors lifted its holdings in shares of International Game Technology by 102.1% in the 4th quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after acquiring an additional 3,129,559 shares during the last quarter. Parsifal Capital Management LP boosted its stake in shares of International Game Technology by 40.8% during the 4th quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock worth $117,590,000 after purchasing an additional 1,243,514 shares during the period. Finally, Wellington Management Group LLP grew its holdings in International Game Technology by 23.1% during the 4th 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 last quarter. 44.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IGT shares. B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of International Game Technology in a research note on Friday, July 26th. Stifel Nicolaus boosted their price objective on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Truist Financial cut their price objective on International Game Technology from $26.00 to $23.00 and set a “hold” rating on the stock in a research report on Wednesday, May 15th. Susquehanna decreased their target price on International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research report on Thursday, May 16th. Finally, StockNews.com lowered shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.67.

International Game Technology Stock Down 0.0 %

Shares of IGT traded down $0.01 during midday trading on Friday, reaching $22.38. 620,128 shares of the stock were exchanged, compared to its average volume of 1,200,447. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company’s 50 day moving average is $21.27 and its two-hundred day moving average is $21.58. The company has a market capitalization of $4.46 billion, a P/E ratio of 21.31 and a beta of 1.98. International Game Technology PLC has a 52 week low of $18.90 and a 52 week high of $33.48.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business earned $0.45 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that International Game Technology PLC will post 1.43 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Tuesday, August 13th. International Game Technology’s dividend payout ratio (DPR) is 76.19%.

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.