Raymond James & Associates Sells 64,800 Shares of International Game Technology PLC (NYSE:IGT)

Raymond James & Associates trimmed its position in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 33.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,164 shares of the company's stock after selling 64,800 shares during the quarter. Raymond James & Associates owned 0.06% of International Game Technology worth $3,486,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms have issued reports on IGT. Truist Financial reduced their price target on International Game Technology from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, March 13th. B. Riley initiated coverage on International Game Technology in a research report on Friday, April 5th. They set a "buy" rating and a $30.00 target price on the stock. Stifel Nicolaus reissued a "hold" rating and set a $26.00 target price (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th. Jefferies Financial Group reissued a "hold" rating and set a $29.00 target price (down previously from $36.00) on shares of International Game Technology in a research report on Thursday, January 4th. Finally, StockNews.com raised International Game Technology from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.33.

International Game Technology Stock Performance

IGT traded down $0.82 during trading on Friday, hitting $19.98. 1,171,733 shares of the stock were exchanged, compared to its average volume of 1,483,510. The firm has a market capitalization of $3.98 billion, a P/E ratio of 26.29 and a beta of 1.94. International Game Technology PLC has a 1-year low of $19.96 and a 1-year high of $33.99. The stock has a fifty day moving average price of $23.76 and a two-hundred day moving average price of $26.21. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, sell-side analysts predict that International Game Technology PLC will post 1.46 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 4.00%. International Game Technology's dividend payout ratio (DPR) is currently 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.