Raymond James Financial Services Advisors Inc. Acquires 805 Shares of International Game Technology PLC (NYSE:IGT)

Raymond James Financial Services Advisors Inc. lifted its stake in International Game Technology PLC (NYSE:IGT) by 10.6% during the fourth quarter, HoldingsChannel reports. The firm owned 8,425 shares of the company’s stock after purchasing an additional 805 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in International Game Technology were worth $231,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Huntington National Bank grew its stake in International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after acquiring an additional 489 shares in the last quarter. CWM LLC boosted its holdings in shares of International Game Technology by 166.5% in the third quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after purchasing an additional 561 shares during the period. Amalgamated Bank grew its stake in International Game Technology by 4.2% in the third quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock worth $508,000 after purchasing an additional 682 shares in the last quarter. Allworth Financial LP increased its holdings in International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after purchasing an additional 847 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in International Game Technology by 14.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,213 shares of the company’s stock worth $249,000 after purchasing an additional 1,028 shares during the period. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Performance

Shares of International Game Technology stock opened at $20.52 on Wednesday. The company has a market capitalization of $4.08 billion, a PE ratio of 26.99 and a beta of 1.94. The company has a 50-day simple moving average of $22.92 and a two-hundred day simple moving average of $25.71. International Game Technology PLC has a one year low of $19.54 and a one year high of $33.99. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.07 and a current ratio of 1.26.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. International Game Technology’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts expect that International Game Technology PLC will post 1.46 EPS for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 25th. This represents a $0.80 annualized dividend and a yield of 3.90%. International Game Technology’s dividend payout ratio (DPR) is 105.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IGT shares. Truist Financial dropped their price target on International Game Technology from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Tuesday. B. Riley assumed coverage on shares of International Game Technology in a report on Friday, April 5th. They set a “buy” rating and a $30.00 target price on the stock. StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 3rd. Argus lowered their price target on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $29.00 price objective (down from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.00.

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.