Vanguard Group Inc. Purchases 29,780 Shares of International Game Technology PLC (NYSE:IGT)

Vanguard Group Inc. lifted its stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,328,460 shares of the company's stock after acquiring an additional 29,780 shares during the quarter. Vanguard Group Inc. owned approximately 0.67% of International Game Technology worth $23,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IGT. Fox Run Management L.L.C. grew its stake in International Game Technology by 283.6% during the fourth quarter. Fox Run Management L.L.C. now owns 71,033 shares of the company's stock worth $1,254,000 after purchasing an additional 52,516 shares during the period. Quantbot Technologies LP purchased a new position in International Game Technology during the 4th quarter worth $2,154,000. Intech Investment Management LLC grew its position in International Game Technology by 82.9% in the 4th quarter. Intech Investment Management LLC now owns 42,974 shares of the company's stock worth $759,000 after purchasing an additional 19,481 shares in the last quarter. Cibc World Markets Corp purchased a new stake in International Game Technology in the 4th quarter valued at about $188,000. Finally, BBR Partners LLC lifted its position in shares of International Game Technology by 16.7% during the 4th quarter. BBR Partners LLC now owns 35,000 shares of the company's stock worth $618,000 after buying an additional 5,000 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Stock Performance

Shares of IGT traded up $0.36 during mid-day trading on Friday, hitting $16.08. The stock had a trading volume of 1,570,186 shares, compared to its average volume of 1,173,574. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The firm has a market cap of $3.25 billion, a P/E ratio of 26.79 and a beta of 1.66. International Game Technology PLC has a 52 week low of $13.81 and a 52 week high of $24.13. The business has a fifty day moving average price of $16.76 and a 200-day moving average price of $18.13.

International Game Technology (NYSE:IGT - Get Free Report) last issued its 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). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business 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 business earned $0.56 EPS. International Game Technology's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities research analysts expect that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Tuesday, March 11th. International Game Technology's payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial reduced their target price 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 lowered International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.25.

International Game Technology 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.