State Board of Administration of Florida Retirement System grew its holdings in International Game Technology (NYSE:IGT) by 60.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,917 shares of the company’s stock after purchasing an additional 28,540 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in International Game Technology were worth $1,389,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC lifted its stake in International Game Technology by 37.8% in the 1st quarter. FMR LLC now owns 2,402,519 shares of the company’s stock worth $56,940,000 after purchasing an additional 659,564 shares in the last quarter. Vanguard Group Inc. lifted its stake in International Game Technology by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,271,003 shares of the company’s stock worth $53,822,000 after purchasing an additional 86,552 shares in the last quarter. Mittleman Brothers LLC lifted its stake in International Game Technology by 8.8% in the 1st quarter. Mittleman Brothers LLC now owns 1,729,836 shares of the company’s stock worth $40,997,000 after purchasing an additional 139,578 shares in the last quarter. Morgan Stanley lifted its stake in International Game Technology by 16.0% in the 1st quarter. Morgan Stanley now owns 1,374,633 shares of the company’s stock worth $32,579,000 after purchasing an additional 189,841 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in International Game Technology by 12.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,367,647 shares of the company’s stock worth $25,028,000 after purchasing an additional 156,585 shares in the last quarter. 39.01% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts have weighed in on IGT shares. ValuEngine raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub raised shares of International Game Technology from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Bank of America Corporation reissued a “neutral” rating and issued a $27.00 target price (up from $22.00) on shares of International Game Technology in a research note on Sunday, May 28th. Finally, Telsey Advisory Group decreased their target price on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.50.
Shares of International Game Technology (NYSE IGT) opened at 22.24 on Friday. The company has a 50-day moving average of $20.32 and a 200 day moving average of $20.94. The firm’s market cap is $4.51 billion. International Game Technology has a 12-month low of $17.25 and a 12-month high of $32.07.
International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.17). The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. Equities research analysts anticipate that International Game Technology will post $1.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Friday, August 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, August 9th. International Game Technology’s dividend payout ratio is currently -142.86%.
International Game Technology Profile
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.
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