Raymond James Financial Inc. Makes New $630,000 Investment in International Game Technology PLC (NYSE:IGT)

Raymond James Financial Inc. purchased a new stake in International Game Technology PLC (NYSE:IGT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 35,671 shares of the company's stock, valued at approximately $630,000.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp grew its position in shares of International Game Technology by 1.0% in the third quarter. State Street Corp now owns 2,103,275 shares of the company's stock valued at $44,800,000 after purchasing an additional 21,295 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in International Game Technology by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,601 shares of the company's stock valued at $20,549,000 after purchasing an additional 31,408 shares during the period. Peregrine Capital Management LLC grew its holdings in International Game Technology by 1.7% in the 4th quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company's stock valued at $11,318,000 after buying an additional 10,901 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 buying an additional 96,019 shares during the period. Finally, Rhumbline Advisers increased its position in International Game Technology by 2.0% during the 4th quarter. Rhumbline Advisers now owns 180,285 shares of the company's stock worth $3,184,000 after buying an additional 3,611 shares during the period. 44.33% of the stock is owned by institutional investors.

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International Game Technology Price Performance

Shares of NYSE IGT traded up $0.20 during mid-day trading on Friday, reaching $15.62. The company had a trading volume of 1,170,310 shares, compared to its average volume of 1,174,292. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 26.03 and a beta of 1.66. The business's 50-day simple moving average is $16.84 and its 200 day simple moving average is $18.30. International Game Technology PLC has a one year low of $13.81 and a one year high of $24.13. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36.

International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate 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 business earned $0.56 earnings per share. International Game Technology's quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on IGT shares. StockNews.com upgraded shares of International Game Technology from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. Truist Financial cut their price objective on shares of International Game Technology from $23.00 to $20.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, International Game Technology has a consensus rating of "Moderate Buy" and a consensus price target 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.