Wells Fargo & Company MN Grows Holdings in International Game Technology PLC (NYSE:IGT)

Wells Fargo & Company MN grew its stake in shares of International Game Technology PLC (NYSE:IGT) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,238 shares of the company’s stock after purchasing an additional 10,881 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of International Game Technology worth $2,653,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in International Game Technology by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock valued at $274,000 after buying an additional 622 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after acquiring an additional 1,145 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in International Game Technology by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock worth $990,000 after purchasing an additional 1,442 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in International Game Technology in the fourth quarter worth approximately $45,000. Finally, Rhumbline Advisers raised 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 valued at $3,184,000 after purchasing an additional 3,611 shares in the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Price Performance

Shares of IGT stock opened at $16.32 on Friday. The company has a market cap of $3.30 billion, a P/E ratio of 27.20 and a beta of 1.66. 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 stock’s 50-day moving average is $16.69 and its 200 day moving average is $18.01. International Game Technology PLC has a 1-year low of $13.81 and a 1-year high of $24.13.

International Game Technology (NYSE:IGT) last issued 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). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $657.84 million. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Research analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 annualized dividend and a yield of 4.90%. International Game Technology’s dividend payout ratio (DPR) is 46.78%.

Analyst Ratings Changes

Several equities analysts have recently commented on IGT shares. Truist Financial cut their price target on International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday. Stifel Nicolaus cut their target price on shares of International Game Technology from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, StockNews.com cut shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

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.