Nuveen Asset Management LLC Sells 69,253 Shares of International Game Technology PLC (NYSE:IGT)

Nuveen Asset Management LLC lessened its holdings in International Game Technology PLC (NYSE:IGT - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,804,485 shares of the company's stock after selling 69,253 shares during the period. Nuveen Asset Management LLC owned 0.91% of International Game Technology worth $31,867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of International Game Technology in the fourth quarter worth $45,000. Sterling Capital Management LLC raised its position in shares of International Game Technology by 782.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock worth $55,000 after buying an additional 2,770 shares in the last quarter. Quarry LP raised its position in shares of International Game Technology by 103.9% in the fourth quarter. Quarry LP now owns 6,185 shares of the company's stock worth $109,000 after buying an additional 3,151 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of International Game Technology in the fourth quarter worth $188,000. Finally, Summit Investment Advisors Inc. raised its position in shares of International Game Technology by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock worth $210,000 after buying an additional 655 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company's stock.

International Game Technology Trading Up 2.6%

Shares of IGT traded up $0.41 during trading hours on Tuesday, hitting $15.70. The company had a trading volume of 1,851,478 shares, compared to its average volume of 1,270,093. The firm has a market cap of $3.17 billion, a P/E ratio of 26.16 and a beta of 1.61. The stock's 50 day moving average price is $16.14 and its 200 day moving average price is $17.31. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. International Game Technology PLC has a 52-week low of $13.81 and a 52-week high of $24.13.

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

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.80 annualized dividend and a dividend yield of 5.10%. International Game Technology's dividend payout ratio is currently 55.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IGT shares. Argus downgraded International Game Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Wall Street Zen downgraded International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Stifel Nicolaus restated a "buy" rating and set a $20.00 price target (down previously from $22.00) on shares of International Game Technology in a research report on Wednesday, May 21st. Truist Financial lowered their price target on International Game Technology from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. 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 report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.