Raymond James Financial Services Advisors Inc. Boosts Holdings in International Game Technology PLC (NYSE:IGT)

Raymond James Financial Services Advisors Inc. lifted its stake in shares of International Game Technology PLC (NYSE:IGT) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,425 shares of the company’s stock after buying an additional 805 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in International Game Technology were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Huntington National Bank lifted its position in International Game Technology by 113.2% during the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock valued at $28,000 after acquiring an additional 489 shares during the period. CWM LLC boosted its position in shares of International Game Technology by 166.5% in the 3rd 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. Amalgamated Bank boosted its position in shares of International Game Technology by 4.2% in the 3rd quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock worth $508,000 after purchasing an additional 682 shares in the last quarter. Allworth Financial LP grew its stake 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 worth $29,000 after buying an additional 847 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in International Game Technology by 14.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,213 shares of the company’s stock valued at $249,000 after buying an additional 1,028 shares in the last quarter. 44.33% of the stock is owned by institutional investors.

International Game Technology Stock Up 0.4 %

Shares of International Game Technology stock opened at $20.52 on Wednesday. International Game Technology PLC has a twelve month low of $19.54 and a twelve month high of $33.99. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average is $22.92 and its 200 day moving average is $25.71. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 26.99 and a beta of 1.94.

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, beating the consensus estimate of $0.45 by $0.11. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm earned $0.40 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Research analysts anticipate that International Game Technology PLC will post 1.46 EPS for the current year.

International Game Technology Announces Dividend

The company also recently declared 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 was Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.90%. International Game Technology’s dividend payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IGT shares. B. Riley started coverage on International Game Technology in a research note on Friday, April 5th. They issued a “buy” rating and a $30.00 target price on the stock. Truist Financial reduced their price objective 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. StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus reissued a “hold” rating and set a $26.00 price target (down previously from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th. Finally, Argus lowered their price objective on 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. Three research 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

International Game Technology 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.