Strs Ohio Reduces Stock Holdings in International Game Technology PLC (NYSE:IGT)

Strs Ohio trimmed its holdings in shares of International Game Technology PLC (NYSE:IGT) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,400 shares of the company’s stock after selling 15,300 shares during the quarter. Strs Ohio’s holdings in International Game Technology were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in International Game Technology by 36.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,208,079 shares of the company’s stock valued at $66,949,000 after purchasing an additional 594,552 shares during the last quarter. Invesco Ltd. grew its stake in International Game Technology by 2.3% during the 3rd quarter. Invesco Ltd. now owns 1,600,691 shares of the company’s stock valued at $48,533,000 after purchasing an additional 35,911 shares during the last quarter. Barclays PLC grew its stake in International Game Technology by 24.8% during the 3rd quarter. Barclays PLC now owns 105,878 shares of the company’s stock valued at $3,212,000 after purchasing an additional 21,029 shares during the last quarter. Deutsche Bank AG grew its stake in International Game Technology by 2.2% during the 3rd quarter. Deutsche Bank AG now owns 257,852 shares of the company’s stock valued at $7,818,000 after purchasing an additional 5,648 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of International Game Technology by 770.0% in the 3rd 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 period. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Performance

NYSE IGT opened at $20.31 on Friday. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 26.72 and a beta of 1.94. International Game Technology PLC has a twelve month low of $19.54 and a twelve month high of $33.99. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of $22.56 and a 200 day moving average of $25.57.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. International Game Technology’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. Sell-side analysts anticipate that International Game Technology PLC will post 1.47 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.80 annualized dividend and a yield of 3.94%. International Game Technology’s dividend payout ratio (DPR) is currently 105.26%.

Wall Street Analysts Forecast Growth

IGT has been the subject of several analyst reports. Truist Financial decreased their price objective on International Game Technology from $28.00 to $26.00 and set a “hold” rating for the company in a report on Tuesday. B. Riley initiated coverage on International Game Technology in a report on Friday, April 5th. They issued a “buy” rating and a $30.00 price objective for the company. StockNews.com raised International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $29.00 price objective (down previously from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $26.00 price objective (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

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.