Bank of America Corp DE Has $3.52 Million Stake in International Game Technology PLC (NYSE:IGT)

Bank of America Corp DE lessened its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 27.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,232 shares of the company's stock after selling 74,071 shares during the quarter. Bank of America Corp DE owned about 0.10% of International Game Technology worth $3,518,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of International Game Technology in the 4th quarter valued at approximately $45,000. Sterling Capital Management LLC lifted its holdings in shares of International Game Technology by 782.5% in the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock worth $55,000 after purchasing an additional 2,770 shares during the last quarter. Quarry LP boosted its holdings in shares of International Game Technology by 103.9% during the fourth quarter. Quarry LP now owns 6,185 shares of the company's stock valued at $109,000 after acquiring an additional 3,151 shares during the period. Cibc World Markets Corp bought a new position in International Game Technology in the 4th quarter worth about $188,000. Finally, Summit Investment Advisors Inc. increased its position in International Game Technology by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock valued at $210,000 after acquiring an additional 655 shares during the period. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Stock Performance

Shares of International Game Technology stock traded up $0.02 during trading on Wednesday, reaching $14.57. The company's stock had a trading volume of 2,818,898 shares, compared to its average volume of 1,296,691. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 24.28 and a beta of 1.61. The business's fifty day moving average price is $15.90 and its 200-day moving average price is $17.09. 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 PLC has a one year low of $13.81 and a one year high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.05). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $583.00 million during the quarter, compared to the consensus estimate of $630.30 million. During the same quarter in the previous year, the business posted $0.46 EPS. The firm's quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that International Game Technology PLC will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.80 annualized dividend and a dividend yield of 5.49%. International Game Technology's dividend payout ratio (DPR) is currently 55.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a "buy" rating and issued a $20.00 price target (down from $22.00) on shares of International Game Technology in a research note on Wednesday, May 21st. Wall Street Zen cut shares of International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Truist Financial dropped their target price on International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Argus cut International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Susquehanna restated a "positive" rating and set a $25.00 price target (down previously from $30.00) on shares of International Game Technology in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.25.

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.