Wellington Management Group LLP Has $23.07 Million Position in International Game Technology PLC (NYSE:IGT)

Wellington Management Group LLP reduced its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,306,139 shares of the company's stock after selling 79,231 shares during the period. Wellington Management Group LLP owned approximately 0.66% of International Game Technology worth $23,066,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in IGT. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of International Game Technology during the 4th quarter valued at approximately $45,000. Cibc World Markets Corp acquired a new stake in shares of International Game Technology during the 4th quarter valued at approximately $188,000. Victory Capital Management Inc. boosted its holdings 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 worth $274,000 after purchasing an additional 622 shares during the period. Van ECK Associates Corp lifted its holdings in International Game Technology by 5.1% in the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after acquiring an additional 1,145 shares during the last quarter. Finally, BBR Partners LLC boosted its holdings in shares of International Game Technology by 16.7% during the fourth quarter. BBR Partners LLC now owns 35,000 shares of the company's stock valued at $618,000 after acquiring an additional 5,000 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

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International Game Technology Trading Up 1.3 %

International Game Technology stock traded up $0.20 during mid-day trading on Friday, hitting $15.62. The stock had a trading volume of 1,170,310 shares, compared to its average volume of 1,174,292. The stock has a market capitalization of $3.15 billion, a PE ratio of 26.03 and a beta of 1.66. International Game Technology PLC has a 12 month low of $13.81 and a 12 month high of $24.13. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The stock has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $18.30.

International Game Technology (NYSE:IGT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $657.84 million. During the same quarter last year, the business posted $0.56 earnings per share. The company's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 annualized dividend and a yield of 5.12%. International Game Technology's dividend payout ratio (DPR) is currently 46.78%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial dropped their target price on 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 report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $28.25.

About International Game Technology

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.