Rhumbline Advisers Has $3.18 Million Stock Holdings in International Game Technology PLC (NYSE:IGT)

Rhumbline Advisers lifted its position in shares of International Game Technology PLC (NYSE:IGT) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,285 shares of the company’s stock after purchasing an additional 3,611 shares during the quarter. Rhumbline Advisers owned 0.09% of International Game Technology worth $3,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IGT. Van ECK Associates Corp increased its position in shares of International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock worth $419,000 after acquiring an additional 1,145 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in International Game Technology in the 4th quarter worth $45,000. Harbor Capital Advisors Inc. increased its holdings 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 worth $990,000 after purchasing an additional 1,442 shares in the last quarter. Barclays PLC raised its stake in shares of International Game Technology by 49.1% in the 3rd quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after purchasing an additional 96,019 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of International Game Technology by 180.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 29,932 shares of the company’s stock valued at $638,000 after purchasing an additional 19,247 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IGT shares. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial decreased their price objective on 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 four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

International Game Technology Stock Performance

NYSE IGT opened at $17.70 on Friday. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 29.49 and a beta of 1.91. 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 PLC has a twelve month low of $16.42 and a twelve month high of $27.27. The stock has a fifty day simple moving average of $17.35 and a 200 day simple moving average of $19.46.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data 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 net margin of 4.17% and a return on equity of 16.17%. The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Sell-side analysts expect that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Tuesday, March 11th. International Game Technology’s payout ratio is 46.78%.

About International Game Technology

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.