International Game Technology PLC (NYSE:IGT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in International Game Technology PLC (NYSE:IGT) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,872 shares of the company’s stock after selling 13,237 shares during the period. Federated Hermes Inc. owned 0.07% of International Game Technology worth $3,560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC increased its position in shares of International Game Technology by 166.5% during the third quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of International Game Technology in the 3rd quarter valued at about $164,000. Meridian Wealth Management LLC grew its stake in International Game Technology by 21.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 15,040 shares of the company’s stock worth $456,000 after buying an additional 2,650 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new position in International Game Technology during the third quarter worth approximately $693,000. Finally, Allworth Financial LP lifted its stake in International Game Technology by 770.0% in the third quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after buying an additional 847 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus lowered their target price on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Stifel Nicolaus reissued a “hold” rating and set a $26.00 price objective (down from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $29.00 target price (down from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Truist Financial decreased their target price on shares of International Game Technology from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

International Game Technology Stock Up 0.2 %

IGT stock opened at $20.31 on Friday. International Game Technology PLC has a one year low of $19.54 and a one year high of $33.99. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.07 and a current ratio of 1.26. The company has a fifty day moving average of $22.56 and a 200-day moving average of $25.57. The stock has a market capitalization of $4.04 billion, a PE ratio of 26.72 and a beta of 1.94.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts expect that International Game Technology PLC will post 1.47 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Monday, March 25th. International Game Technology’s dividend payout ratio is presently 105.26%.

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.