Intech Investment Management LLC Acquires 19,481 Shares of International Game Technology PLC (NYSE:IGT)

Intech Investment Management LLC boosted its holdings in shares of International Game Technology PLC (NYSE:IGT) by 82.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,974 shares of the company’s stock after purchasing an additional 19,481 shares during the quarter. Intech Investment Management LLC’s holdings in International Game Technology were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IGT. Victory Capital Management Inc. boosted its position in shares of International Game Technology by 4.2% in 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 during the period. Point72 DIFC Ltd raised its stake in International Game Technology by 7.9% during the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock valued at $274,000 after purchasing an additional 947 shares during the last quarter. Van ECK Associates Corp boosted its holdings in International Game Technology by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after purchasing an additional 1,145 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in International Game Technology by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock valued at $990,000 after purchasing an additional 1,442 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in International Game Technology in the 4th quarter worth $45,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Price Performance

Shares of International Game Technology stock opened at $17.04 on Monday. The firm has a market cap of $3.44 billion, a P/E ratio of 28.39 and a beta of 1.86. The firm’s 50-day simple moving average is $17.30 and its 200-day simple moving average is $18.95. International Game Technology PLC has a twelve month low of $16.42 and a twelve month high of $24.13. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The company had revenue of $651.00 million for the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. As a group, 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 will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.70%. International Game Technology’s payout ratio is presently 46.78%.

Wall Street Analyst Weigh In

IGT has been the subject of a number of research analyst reports. Truist Financial cut their price objective on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, International Game Technology has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

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.