Boston Partners Lowers Stock Holdings in International Game Technology PLC (NYSE:IGT)

Boston Partners lessened its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 95.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 150,917 shares of the company's stock after selling 3,398,301 shares during the quarter. Boston Partners owned about 0.08% of International Game Technology worth $4,137,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IGT. Huntington National Bank grew its stake in shares of International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company's stock valued at $28,000 after buying an additional 489 shares during the period. Amalgamated Bank grew its position in International Game Technology by 4.2% in the third quarter. Amalgamated Bank now owns 16,766 shares of the company's stock worth $508,000 after acquiring an additional 682 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in International Game Technology by 10.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company's stock worth $231,000 after acquiring an additional 805 shares during the last quarter. Allworth Financial LP raised its position in International Game Technology by 770.0% in the third quarter. Allworth Financial LP now owns 957 shares of the company's stock valued at $29,000 after purchasing an additional 847 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in shares of International Game Technology in the 4th quarter valued at $25,000. Hedge funds and other institutional investors own 44.33% of the company's stock.

International Game Technology Stock Down 2.2 %

Shares of IGT stock traded down $0.46 during trading on Friday, reaching $20.24. The company's stock had a trading volume of 575,320 shares, compared to its average volume of 1,174,326. International Game Technology PLC has a 1-year low of $19.48 and a 1-year high of $33.99. The stock's 50-day moving average price is $21.02 and its 200 day moving average price is $24.64. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 19.51 and a beta of 1.94. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 1.07.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.17. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The company's revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, research analysts anticipate that International Game Technology PLC will post 1.46 EPS for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, May 30th. International Game Technology's payout ratio is presently 76.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Susquehanna cut their price objective on International Game Technology from $40.00 to $33.00 and set a "positive" rating for the company in a research report on Thursday. B. Riley assumed coverage on shares of International Game Technology in a research note on Friday, April 5th. They issued a "buy" rating and a $30.00 price target on the stock. StockNews.com lowered shares of International Game Technology from a "strong-buy" rating to a "buy" rating in a report on Monday. Stifel Nicolaus reiterated a "hold" rating and issued a $24.00 target price on shares of International Game Technology in a report on Wednesday. Finally, Argus cut their target price on International Game Technology from $30.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

International Game Technology Company 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.