1,450,531 Shares in International Game Technology PLC (NYSE:IGT) Purchased by Norges Bank

Norges Bank bought a new stake in International Game Technology PLC (NYSE:IGT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,450,531 shares of the company’s stock, valued at approximately $25,616,000. Norges Bank owned approximately 0.73% of International Game Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of IGT. JPMorgan Chase & Co. boosted its holdings in International Game Technology by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 293,729 shares of the company’s stock worth $5,187,000 after purchasing an additional 9,278 shares during the last quarter. Vanguard Group Inc. lifted its position in International Game Technology by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 1,328,460 shares of the company’s stock worth $23,461,000 after buying an additional 29,780 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of International Game Technology by 283.6% during the 4th quarter. Fox Run Management L.L.C. now owns 71,033 shares of the company’s stock worth $1,254,000 after buying an additional 52,516 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of International Game Technology in the 4th quarter valued at about $2,154,000. Finally, Intech Investment Management LLC increased its position in shares of International Game Technology by 82.9% in the fourth quarter. Intech Investment Management LLC now owns 42,974 shares of the company’s stock valued at $759,000 after acquiring an additional 19,481 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Price Performance

Shares of NYSE IGT opened at $14.60 on Monday. International Game Technology PLC has a twelve month low of $13.88 and a twelve month high of $24.13. The company has a market cap of $2.95 billion, a PE ratio of 24.33 and a beta of 1.86. The business’s 50 day moving average price is $17.09 and its two-hundred day moving average price is $18.57. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results 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). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same quarter last year, the company posted $0.56 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. On average, analysts predict that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a yield of 5.48%. International Game Technology’s dividend payout ratio (DPR) is currently 46.78%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IGT shares. Truist Financial reduced their price target on 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 raised International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, International Game Technology has an average 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.