Goldman Sachs Group Inc. Decreases Holdings in International Game Technology PLC (NYSE:IGT)

Goldman Sachs Group Inc. trimmed its holdings in shares of International Game Technology PLC (NYSE:IGT) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,184,897 shares of the company’s stock after selling 56,860 shares during the period. Goldman Sachs Group Inc. owned 0.60% of International Game Technology worth $32,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in IGT. Venturi Wealth Management LLC purchased a new position in International Game Technology in the 4th quarter valued at about $25,000. Highlander Capital Management LLC acquired a new stake in International Game Technology during the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC acquired a new stake in International Game Technology during the fourth quarter worth about $38,000. Neo Ivy Capital Management acquired a new stake in International Game Technology during the fourth quarter worth about $93,000. Finally, Altfest L J & Co. Inc. acquired a new stake in International Game Technology during the fourth quarter worth about $203,000. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Trading Up 0.0 %

Shares of NYSE:IGT opened at $20.42 on Friday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 19.45 and a beta of 1.94. International Game Technology PLC has a 1-year low of $18.90 and a 1-year high of $33.99. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.67 and a current ratio of 0.80. The company has a 50 day moving average price of $20.27 and a 200 day moving average price of $23.42.

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

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.92%. The ex-dividend date was Thursday, May 30th. International Game Technology’s payout ratio is 76.19%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $26.00 in a research note on Thursday, May 30th. Susquehanna dropped their price objective on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a research note on Thursday, May 16th. Argus dropped their price objective on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. StockNews.com lowered shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 13th. Finally, Truist Financial dropped their price target on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.