Vaughan Nelson Investment Management L.P. Has $39.38 Million Stock Position in International Game Technology PLC (NYSE:IGT)

Vaughan Nelson Investment Management L.P. reduced its position in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 25.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,436,512 shares of the company's stock after selling 490,205 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.72% of International Game Technology worth $39,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IGT. JPMorgan Chase & Co. raised its position in shares of International Game Technology by 48.0% during the 1st quarter. JPMorgan Chase & Co. now owns 435,238 shares of the company's stock valued at $10,742,000 after acquiring an additional 141,105 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of International Game Technology during the 1st quarter valued at approximately $374,000. Rhumbline Advisers raised its position in shares of International Game Technology by 1.6% during the 1st quarter. Rhumbline Advisers now owns 103,240 shares of the company's stock valued at $2,548,000 after acquiring an additional 1,616 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of International Game Technology by 35.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,031 shares of the company's stock valued at $106,000 after acquiring an additional 1,048 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in shares of International Game Technology during the 1st quarter valued at approximately $212,000. 44.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IGT. Jefferies Financial Group restated a "hold" rating and set a $29.00 price objective (down from $36.00) on shares of International Game Technology in a research note on Thursday, January 4th. Truist Financial lowered their price objective on International Game Technology from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 13th. Argus lowered their price objective on International Game Technology from $30.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. StockNews.com upgraded International Game Technology from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Finally, B. Riley began coverage on International Game Technology in a research note on Friday. They set a "buy" rating and a $30.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, International Game Technology currently has an average rating of "Moderate Buy" and a consensus price target of $31.33.

International Game Technology Stock Performance

Shares of NYSE:IGT traded up $0.04 on Friday, hitting $21.25. The company's stock had a trading volume of 1,399,711 shares, compared to its average volume of 1,758,095. International Game Technology PLC has a 12 month low of $19.96 and a 12 month high of $33.99. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 27.96 and a beta of 1.94. The stock's 50-day moving average is $24.30 and its two-hundred day moving average is $26.59. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.07 and a current ratio of 1.26.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that International Game Technology PLC will post 1.48 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 3.76%. International Game Technology's payout ratio is 105.26%.

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.