Legal & General Group Plc Acquires 3,648 Shares of International Game Technology PLC (NYSE:IGT)

Legal & General Group Plc grew its stake in shares of International Game Technology PLC (NYSE:IGT) by 17.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,560 shares of the company’s stock after purchasing an additional 3,648 shares during the period. Legal & General Group Plc’s holdings in International Game Technology were worth $434,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in International Game Technology by 7.8% during the fourth quarter. Wells Fargo & Company MN now owns 150,238 shares of the company’s stock worth $2,653,000 after buying an additional 10,881 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of International Game Technology by 10.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock worth $151,495,000 after buying an additional 787,543 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of International Game Technology by 54.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 265,098 shares of the company’s stock worth $4,682,000 after buying an additional 93,553 shares during the last quarter. Norges Bank bought a new position in shares of International Game Technology in the fourth quarter valued at approximately $25,616,000. Finally, JPMorgan Chase & Co. lifted its holdings in International Game Technology by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 293,729 shares of the company’s stock worth $5,187,000 after acquiring an additional 9,278 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IGT has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price objective on International Game Technology from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Finally, Truist Financial dropped their target price on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.75.

International Game Technology Trading Up 0.9 %

Shares of IGT opened at $16.56 on Wednesday. International Game Technology PLC has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The business has a 50-day moving average of $16.60 and a 200 day moving average of $17.91. The firm has a market cap of $3.34 billion, a P/E ratio of 27.59 and a beta of 1.66. 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 posted its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, research analysts forecast that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

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 4.83%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s payout ratio is currently 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.