Geode Capital Management LLC Trims Position in International Game Technology PLC (NYSE:IGT)

Geode Capital Management LLC cut its stake in shares of International Game Technology PLC (NYSE:IGT) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,361,885 shares of the company’s stock after selling 2,947 shares during the period. Geode Capital Management LLC owned 0.68% of International Game Technology worth $29,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IGT. Allspring Global Investments Holdings LLC lifted its stake in International Game Technology by 46.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 25,938 shares of the company’s stock worth $531,000 after purchasing an additional 8,269 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of International Game Technology in the second quarter worth $1,185,000. Rhumbline Advisers boosted its stake in International Game Technology by 22.2% during the second quarter. Rhumbline Advisers now owns 184,801 shares of the company’s stock valued at $3,781,000 after buying an additional 33,622 shares during the period. Acadian Asset Management LLC purchased a new position in International Game Technology during the second quarter worth about $107,000. Finally, Caprock Group LLC bought a new position in International Game Technology in the 2nd quarter worth about $1,252,000. 44.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, International Game Technology has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Performance

NYSE:IGT opened at $17.29 on Friday. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 28.82 and a beta of 1.91. The business has a 50 day moving average of $19.53 and a 200 day moving average of $20.62. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology PLC has a 1-year low of $16.92 and a 1-year high of $27.89.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that International Game Technology PLC will post 1 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, December 10th. Stockholders of record on Tuesday, November 26th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.63%. International Game Technology’s dividend payout ratio is currently 133.33%.

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.