Norges Bank bought a new position in shares of International Game Technology PLC (NYSE:IGT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,450,531 shares of the company's stock, valued at approximately $25,616,000. Norges Bank owned approximately 0.73% of International Game Technology as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of International Game Technology in the 4th quarter valued at approximately $45,000. Cibc World Markets Corp bought a new stake in International Game Technology during the fourth quarter worth $188,000. Point72 DIFC Ltd raised its position in International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock worth $274,000 after acquiring an additional 947 shares in the last quarter. Victory Capital Management Inc. lifted its stake in International Game Technology by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after acquiring an additional 622 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock valued at $419,000 after acquiring an additional 1,145 shares during the period. 44.33% of the stock is owned by institutional investors and hedge funds.
International Game Technology Stock Performance
Shares of NYSE IGT traded up $0.20 during mid-day trading on Friday, reaching $15.62. 1,170,310 shares of the company were exchanged, compared to its average volume of 1,174,292. International Game Technology PLC has a twelve month low of $13.81 and a twelve month high of $24.13. The stock has a market capitalization of $3.15 billion, a P/E ratio of 26.03 and a beta of 1.66. The company's 50-day simple moving average is $16.84 and its 200-day simple moving average is $18.30. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.
International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $657.84 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The company's revenue was down 4.4% on a year-over-year basis. 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 Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's dividend payout ratio is 46.78%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on IGT shares. Truist Financial dropped 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 upgraded International Game Technology from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, International Game Technology has a consensus rating of "Moderate Buy" and a consensus target price of $28.25.
Read Our Latest Stock Analysis on IGT
About International Game Technology
(
Free Report)
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.
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