Franklin Resources Inc. Sells 1,284 Shares of International Game Technology PLC (NYSE:IGT)

Franklin Resources Inc. lessened its position in shares of International Game Technology PLC (NYSE:IGT) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,183 shares of the company’s stock after selling 1,284 shares during the period. Franklin Resources Inc. owned 0.05% of International Game Technology worth $1,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology in the 4th quarter valued at about $45,000. Cibc World Markets Corp purchased 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 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock worth $274,000 after buying an additional 622 shares during the period. Van ECK Associates Corp grew its stake in International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after buying an additional 1,145 shares in the last quarter. Finally, BBR Partners LLC raised its holdings in International Game Technology by 16.7% during the 4th 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. Institutional investors own 44.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IGT shares. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, International Game Technology has an average rating of “Moderate Buy” and an average target price of $28.25.

International Game Technology Trading Up 1.3 %

Shares of IGT stock opened at $15.62 on Monday. The company 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 52-week low of $13.81 and a 52-week high of $24.13. The business’s fifty day moving average is $16.84 and its 200 day moving average is $18.28. 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) last issued its quarterly earnings results 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 for 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 was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities research analysts anticipate that International Game Technology PLC will post 1.24 EPS for the current fiscal 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 5.12%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s payout ratio is 46.78%.

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.