Capital Research Global Investors Sells 1,995,018 Shares of International Game Technology PLC (NYSE:IGT)

Capital Research Global Investors lowered its position in International Game Technology PLC (NYSE:IGT) by 59.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,337,473 shares of the company’s stock after selling 1,995,018 shares during the period. Capital Research Global Investors owned 0.67% of International Game Technology worth $23,620,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IGT. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of International Game Technology in the 4th quarter worth $45,000. Sterling Capital Management LLC grew its holdings in shares of International Game Technology by 782.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock valued at $55,000 after buying an additional 2,770 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of International Game Technology during the fourth quarter worth about $188,000. Summit Investment Advisors Inc. raised its holdings in shares of International Game Technology by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company’s stock worth $210,000 after acquiring an additional 655 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in International Game Technology by 4.2% in the 4th 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. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Trading Up 0.1 %

NYSE:IGT opened at $16.08 on Tuesday. International Game Technology PLC has a 52 week low of $13.81 and a 52 week high of $24.13. The firm has a 50-day moving average price of $16.74 and a two-hundred day moving average price of $18.06. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 26.80 and a beta of 1.66.

International Game Technology (NYSE:IGT) 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). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $657.84 million. During the same period in the previous year, the business posted $0.56 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. On average, equities analysts expect that International Game Technology PLC will post 1.24 earnings per share 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 of this dividend 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%.

Wall Street Analyst Weigh In

A number of brokerages have commented on IGT. StockNews.com lowered International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Truist Financial decreased their price target on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Two 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.25.

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.