Okabena Investment Services Inc. Buys Shares of 50,968 International Game Technology PLC (NYSE:IGT)

Okabena Investment Services Inc. purchased a new position in shares of International Game Technology PLC (NYSE:IGT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 50,968 shares of the company’s stock, valued at approximately $1,397,000.

A number of other institutional investors also recently made changes to their positions in the stock. Amalgamated Bank lifted its stake in shares of 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 buying an additional 682 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in International Game Technology by 14.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,213 shares of the company’s stock valued at $249,000 after acquiring an additional 1,028 shares during the last quarter. Deutsche Bank AG lifted its holdings in International Game Technology by 2.2% in the third quarter. Deutsche Bank AG now owns 257,852 shares of the company’s stock valued at $7,818,000 after buying an additional 5,648 shares during the period. Rhumbline Advisers boosted its position in shares of International Game Technology by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 153,844 shares of the company’s stock worth $4,665,000 after purchasing an additional 4,479 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of International Game Technology by 2.3% during the third quarter. Invesco Ltd. now owns 1,600,691 shares of the company’s stock worth $48,533,000 after purchasing an additional 35,911 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IGT has been the subject of a number of research reports. Argus lowered their target price on International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Susquehanna dropped their target price on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a report on Thursday, May 16th. B. Riley began coverage on shares of International Game Technology in a research report on Friday, April 5th. They set a “buy” rating and a $30.00 price objective for the company. Stifel Nicolaus upgraded International Game Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $24.00 to $26.00 in a research note on Thursday, May 30th. Finally, Truist Financial cut their price objective on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, International Game Technology has an average rating of “Moderate Buy” and an average price target of $28.00.

International Game Technology Trading Down 2.7 %

Shares of IGT opened at $20.29 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.67 and a current ratio of 0.80. International Game Technology PLC has a 52-week low of $18.90 and a 52-week high of $33.99. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 19.32 and a beta of 1.94. The business’s fifty day moving average is $20.33 and its 200-day moving average is $23.66.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, May 14th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.29 by $0.17. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts anticipate that International Game Technology PLC will post 1.53 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, May 30th. International Game Technology’s dividend payout ratio (DPR) is 76.19%.

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.