1,101,481 Shares in International Game Technology PLC (NYSE:IGT) Bought by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. purchased a new stake in International Game Technology PLC (NYSE:IGT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,101,481 shares of the company's stock, valued at approximately $19,453,000. T. Rowe Price Investment Management Inc. owned 0.55% of International Game Technology at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of International Game Technology by 22.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,480 shares of the company's stock worth $804,000 after acquiring an additional 8,295 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of International Game Technology in the 4th quarter worth about $458,000. Stifel Financial Corp boosted its stake in International Game Technology by 56.9% during the 4th quarter. Stifel Financial Corp now owns 88,161 shares of the company's stock valued at $1,557,000 after purchasing an additional 31,982 shares during the period. MetLife Investment Management LLC increased its holdings in shares of International Game Technology by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 69,530 shares of the company's stock valued at $1,228,000 after purchasing an additional 3,834 shares during the period. Finally, Gabelli Funds LLC raised its holdings in International Game Technology by 2.8% during the fourth quarter. Gabelli Funds LLC now owns 288,084 shares of the company's stock worth $5,088,000 after purchasing an additional 7,934 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

Wall Street Analysts Forecast Growth

IGT has been the topic of a number of research analyst reports. StockNews.com downgraded International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Stifel Nicolaus lowered their price target on International Game Technology from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. 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 report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, International Game Technology has an average rating of "Moderate Buy" and a consensus price target of $25.75.

International Game Technology Price Performance

International Game Technology stock traded down $0.13 during trading hours on Wednesday, reaching $16.42. 1,002,109 shares of the stock were exchanged, compared to its average volume of 1,172,766. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The company has a market cap of $3.32 billion, a P/E ratio of 27.37 and a beta of 1.66. The stock has a 50 day moving average of $16.60 and a two-hundred day moving average of $17.91. International Game Technology PLC has a twelve month low of $13.81 and a twelve month high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $657.84 million. During the same quarter last year, the company earned $0.56 earnings per share. The company's quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.87%. International Game Technology's dividend payout ratio (DPR) is currently 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.