Janney Montgomery Scott LLC reduced its holdings in International Game Technology PLC (NYSE: IGT – Free Report ) by 33.3% during the fourth quarter, according to the latest filing with the Securities and Exchange Commission. The institutional investor sold 53,211 shares during the quarter and now owns 106,470 shares of the company's stock. Janney Montgomery Scott LLC held approximately 0.05% of International Game Technology worth $2,918,000 at the end of the latest reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares in the company. Venturi Wealth Management LLC acquired a new stake in International Game Technology in the fourth quarter worth approximately $25,000. Highlander Capital Management LLC acquired a new stake in International Game Technology in the fourth quarter worth approximately $27,000. Huntington National Bank increased its stake in International Game Technology by 113.2% in the third quarter. Huntington National Bank now owns 921 shares of the company's stock valued at $28,000 after acquiring an additional 489 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in International Game Technology in the fourth quarter worth approximately $38,000. Finally, Altfest LJ & Co. Inc. acquired a new stake in International Game Technology in the fourth quarter worth approximately $203,000. Institutional investors now own 44.33% of the company's shares.
Wall Street analysts predict growth
Several research firms have offered their opinions on IGT. Susquehanna lowered their price target on International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a research report on Thursday, May 16th. StockNews.com lowered International Game Technology from a “strong buy” rating to a “buy” rating in a research report on Monday, May 13th. B. Riley began coverage on International Game Technology in a research report on Friday, April 5th. The firm set a “buy” rating and a $30.00 price target on the company. Argus lowered their price target on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $24.00 price target on International Game Technology in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating, and the company's current consensus rating is a “moderate buy” with an average target price of $27.67, according to MarketBeat data.
Check out the latest stock report on International Gaming Technology
International Gaming Technology Price Performance
NYSE IGT opened trading at $19.67 on Friday. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 0.67. The company has a market capitalization of $3.91 billion, a P/E ratio of 18.73 and a beta of 1.94. The stock's 50-day moving average is $20.70 and its 200-day moving average is $24.36. International Game Technology PLC's 52-week low is $19.48 and its 52-week high is $33.99.
International Game Technology (NYSE:IGT – get free report ) last announced its earnings results on Tuesday, May 14th. The company reported quarterly earnings per share (EPS) of $0.46, beating analysts' consensus estimates of $0.29 by $0.17. International Game Technology had return on equity of 20.84%, with net margins of 4.98%. The company's revenue for the quarter was $1.07 billion, compared to analysts' estimates of $1.03 billion. Year-over-year earnings per share were $0.49. The company's revenue grew 0.7% year-over-year. Analysts on average are expecting International Game Technology PLC to post earnings per share of $1.53 for the current fiscal year.
International Game Technology Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be paid a dividend of $0.20. The ex-dividend date for this dividend is Thursday, May 30th. On an annualized basis, this equates to a dividend of $0.80, or a yield of 4.07%. International Game Technology's dividend payout ratio is currently 76.19%.
International Games Technology Profile
(Free report)
International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, the United Kingdom, other European countries, and internationally. The company operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company also designs, sells, operates and leases point-of-sale machine suites that reconcile lottery funds between retailers and lottery authorities, provides online lottery transaction processing systems, produces instant ticket games, provides printing services such as instant ticket marketing plans, graphic design, programming, packaging, shipping and delivery services, and iLottery solutions and services.
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