LGT Group Foundation Sells 7,560 Shares of International Game Technology PLC (NYSE:IGT)

LGT Group Foundation decreased its stake in shares of International Game Technology PLC (NYSE:IGT) by 16.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,723 shares of the company’s stock after selling 7,560 shares during the period. LGT Group Foundation’s holdings in International Game Technology were worth $684,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of International Game Technology by 0.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock worth $165,946,000 after buying an additional 47,442 shares during the period. FMR LLC boosted its holdings in shares of International Game Technology by 19.4% during 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. State Street Corp boosted its holdings in shares of International Game Technology by 1.0% during the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock worth $44,800,000 after buying an additional 21,295 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of International Game Technology by 80.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock worth $25,616,000 after buying an additional 537,330 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of International Game Technology by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company’s stock worth $24,116,000 after buying an additional 164,935 shares during the period. Institutional investors own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

IGT has been the subject of several research analyst reports. Truist Financial reduced their target price 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. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, International Game Technology has a consensus rating of “Moderate Buy” and an average price target of $28.00.

International Game Technology Stock Performance

NYSE IGT opened at $17.72 on Tuesday. 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 company has a market capitalization of $3.58 billion, a P/E ratio of 29.53 and a beta of 1.91. International Game Technology PLC has a 12-month low of $16.42 and a 12-month high of $26.44. The firm has a 50-day moving average price of $17.37 and a two-hundred day moving average price of $19.42.

International Game Technology (NYSE:IGT) last posted 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). The business 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 business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. Analysts anticipate that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Tuesday, March 11th. International Game Technology’s payout ratio is presently 46.78%.

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.