Lazard Asset Management LLC Purchases 1,267,625 Shares of International Game Technology PLC (NYSE:IGT)

Lazard Asset Management LLC raised its holdings in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,927,433 shares of the company's stock after purchasing an additional 1,267,625 shares during the quarter. Lazard Asset Management LLC owned approximately 5.49% of International Game Technology worth $192,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of International Game Technology during the fourth quarter worth $25,616,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of International Game Technology by 10.1% during the fourth 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. Fox Run Management L.L.C. lifted its holdings in shares of International Game Technology by 283.6% during the fourth quarter. Fox Run Management L.L.C. now owns 71,033 shares of the company's stock worth $1,254,000 after buying an additional 52,516 shares in the last quarter. Barclays PLC lifted its holdings in shares of International Game Technology by 49.1% during the third quarter. Barclays PLC now owns 291,626 shares of the company's stock worth $6,212,000 after buying an additional 96,019 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of International Game Technology by 54.5% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

International Game Technology Price Performance

Shares of NYSE IGT traded up $0.25 during mid-day trading on Friday, reaching $16.88. The company had a trading volume of 2,476,902 shares, compared to its average volume of 1,223,516. 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. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 28.13 and a beta of 1.61. The business's 50-day simple moving average is $16.35 and its 200 day simple moving average is $17.59.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $583.00 million during the quarter, compared to the consensus estimate of $630.30 million. On average, 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 will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology's dividend payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

IGT has been the subject of a number of research reports. Susquehanna reissued a "positive" rating and set a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a report on Wednesday. Stifel Nicolaus decreased their price target on International Game Technology from $26.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com cut International Game Technology from a "buy" rating to a "hold" rating in a research report on Monday, April 14th. Finally, Truist Financial decreased 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. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $23.75.

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.