International Game Technology PLC (NYSE:IGT) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in International Game Technology PLC (NYSE:IGT - Free Report) by 82.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,974 shares of the company's stock after purchasing an additional 19,481 shares during the period. Intech Investment Management LLC's holdings in International Game Technology were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of IGT. Hotchkis & Wiley Capital Management LLC increased its stake in International Game Technology by 80.8% in the third 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 during the period. FMR LLC increased its stake in International Game Technology by 19.4% in the 3rd quarter. FMR LLC now owns 3,050,447 shares of the company's stock worth $64,975,000 after buying an additional 495,962 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of International Game Technology by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company's stock valued at $24,116,000 after acquiring an additional 164,935 shares in the last quarter. Barclays PLC raised 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 valued at $6,212,000 after purchasing an additional 96,019 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of International Game Technology in the 3rd quarter worth $1,636,000. Hedge funds and other institutional investors own 44.33% of the company's stock.

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International Game Technology Stock Down 2.9 %

Shares of NYSE IGT traded down $0.49 during mid-day trading on Thursday, reaching $16.48. 1,397,106 shares of the company were exchanged, compared to its average volume of 1,109,597. The firm has a 50-day moving average of $17.27 and a 200 day moving average of $18.87. International Game Technology PLC has a 1 year low of $16.42 and a 1 year high of $24.13. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 27.46 and a beta of 1.86.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. On average, research analysts expect that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's payout ratio is presently 46.78%.

Analysts Set New Price Targets

Several research firms recently weighed in on IGT. Truist Financial decreased their price objective on International Game Technology from $23.00 to $20.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. StockNews.com upgraded shares of International Game Technology from a "hold" rating to a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, International Game Technology currently has an average rating of "Moderate Buy" and a consensus price target of $28.25.

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.