International Game Technology PLC (NYSE:IGT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in International Game Technology PLC (NYSE:IGT – Get Rating) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,989 shares of the company’s stock after selling 4,663 shares during the period. Envestnet Asset Management Inc.’s holdings in International Game Technology were worth $1,020,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in shares of International Game Technology by 28.2% during the third quarter. Lazard Asset Management LLC now owns 9,946,043 shares of the company’s stock worth $157,146,000 after acquiring an additional 2,184,898 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of International Game Technology by 3.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,229,339 shares of the company’s stock worth $130,024,000 after acquiring an additional 305,433 shares during the last quarter. Boston Partners increased its position in shares of International Game Technology by 1.7% during the third quarter. Boston Partners now owns 6,794,329 shares of the company’s stock worth $106,407,000 after acquiring an additional 112,338 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of International Game Technology by 19.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,390,821 shares of the company’s stock valued at $100,974,000 after buying an additional 1,050,703 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of International Game Technology by 4.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,890,276 shares of the company’s stock valued at $61,414,000 after buying an additional 157,003 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IGT. Susquehanna upgraded International Game Technology from a “neutral” rating to a “positive” rating and set a $31.00 target price for the company in a research note on Thursday, May 11th. B. Riley began coverage on International Game Technology in a research note on Thursday, April 20th. They issued a “buy” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their target price on International Game Technology from $29.00 to $33.00 in a research note on Wednesday, March 1st. Stifel Nicolaus upped their price objective on International Game Technology from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, February 7th. Finally, Credit Suisse Group upped their price objective on International Game Technology from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $39.00.

International Game Technology Stock Up 0.2 %

Shares of IGT stock opened at $24.64 on Friday. International Game Technology PLC has a 1 year low of $15.01 and a 1 year high of $28.98. The stock has a market cap of $4.91 billion, a PE ratio of 23.03 and a beta of 1.86. The business’s fifty day moving average is $26.50 and its 200-day moving average is $25.38. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.90 and a current ratio of 1.03.

International Game Technology (NYSE:IGT – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. International Game Technology had a return on equity of 28.84% and a net margin of 5.17%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts expect that International Game Technology PLC will post 1.68 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 25th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.25%. International Game Technology’s dividend payout ratio (DPR) is 74.77%.

International Game Technology Profile

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International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and Digital & Betting segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.