Charles Schwab Investment Management Inc. Boosts Holdings in International Game Technology PLC (NYSE:IGT)

Charles Schwab Investment Management Inc. lifted its stake in International Game Technology PLC (NYSE:IGT) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,163,601 shares of the company’s stock after purchasing an additional 31,408 shares during the period. Charles Schwab Investment Management Inc. owned 0.58% of International Game Technology worth $20,549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Peregrine Capital Management LLC lifted its position in shares of International Game Technology by 1.7% in the 4th quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company’s stock worth $11,318,000 after purchasing an additional 10,901 shares during the period. Rhumbline Advisers lifted its position in International Game Technology by 2.0% during the 4th quarter. Rhumbline Advisers now owns 180,285 shares of the company’s stock valued at $3,184,000 after acquiring an additional 3,611 shares during the period. Van ECK Associates Corp lifted its position in International Game Technology by 5.1% during the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after acquiring an additional 1,145 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in International Game Technology during the 4th quarter valued at about $45,000. Finally, Harbor Capital Advisors Inc. lifted its position in International Game Technology by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock valued at $990,000 after acquiring an additional 1,442 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IGT has been the subject of a number of recent research reports. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Truist Financial decreased their target price on shares of 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

International Game Technology Stock Up 2.0 %

Shares of International Game Technology stock opened at $17.31 on Thursday. 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 stock has a market capitalization of $3.50 billion, a PE ratio of 28.84 and a beta of 1.86. International Game Technology PLC has a 52-week low of $16.42 and a 52-week high of $24.13. The company has a 50-day simple moving average of $17.32 and a two-hundred day simple moving average of $19.04.

International Game Technology (NYSE:IGT) last announced 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 return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. On average, analysts anticipate that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.20 dividend. 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 4.62%. International Game Technology’s dividend payout ratio is presently 46.78%.

International Game Technology Company 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.