Vanguard Group Inc. Acquires 29,780 Shares of International Game Technology PLC (NYSE:IGT)

Vanguard Group Inc. lifted its stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,328,460 shares of the company's stock after acquiring an additional 29,780 shares during the period. Vanguard Group Inc. owned 0.67% of International Game Technology worth $23,461,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IGT. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of International Game Technology during the fourth quarter valued at about $45,000. Cibc World Markets Corp acquired a new stake in International Game Technology in the fourth quarter valued at approximately $188,000. Victory Capital Management Inc. increased its holdings in shares of International Game Technology by 4.2% during the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after acquiring an additional 622 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after purchasing an additional 1,145 shares in the last quarter. Finally, BBR Partners LLC grew its position in International Game Technology by 16.7% in the 4th quarter. BBR Partners LLC now owns 35,000 shares of the company's stock valued at $618,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 44.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IGT shares. Truist Financial dropped their price objective on shares of International Game Technology from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, International Game Technology has a consensus rating of "Moderate Buy" and a consensus price target of $28.25.

International Game Technology Stock Up 2.3 %

International Game Technology stock traded up $0.36 during midday trading on Friday, hitting $16.08. 1,570,186 shares of the stock were exchanged, compared to its average volume of 1,173,016. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 26.79 and a beta of 1.66. International Game Technology PLC has a 52-week low of $13.81 and a 52-week high of $24.13. The business's 50-day moving average price is $16.76 and its 200-day moving average price is $18.09.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). The business had revenue of $651.00 million for the quarter, compared to analysts' expectations of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business's revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. On average, research analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.98%. International Game Technology's dividend payout ratio (DPR) is presently 46.78%.

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.