Healthcare of Ontario Pension Plan Trust Fund Raises Position in International Game Technology PLC (NYSE:IGT)

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of International Game Technology PLC (NYSE:IGT) by 38.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 122,000 shares of the company’s stock after purchasing an additional 34,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in International Game Technology were worth $2,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors lifted its position in International Game Technology by 102.1% in the 4th quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock valued at $169,777,000 after acquiring an additional 3,129,559 shares in the last quarter. Norges Bank purchased a new position in shares of International Game Technology in the fourth quarter worth $35,011,000. Parsifal Capital Management LP lifted its holdings in shares of International Game Technology by 40.8% during the fourth quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock valued at $117,590,000 after purchasing an additional 1,243,514 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of International Game Technology by 6.4% during the first quarter. Bank of New York Mellon Corp now owns 13,871,989 shares of the company’s stock valued at $313,368,000 after buying an additional 838,622 shares during the last quarter. Finally, Beryl Capital Management LLC bought a new stake in International Game Technology in the 4th quarter worth about $16,431,000. Institutional investors own 44.33% of the company’s stock.

International Game Technology Trading Up 0.1 %

Shares of IGT stock opened at $20.16 on Friday. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 0.67. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 19.20 and a beta of 1.98. International Game Technology PLC has a 1 year low of $18.90 and a 1 year high of $33.99. The firm has a fifty day moving average price of $20.39 and a 200-day moving average price of $22.32.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.17. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. International Game Technology’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, equities analysts predict that International Game Technology PLC will post 1.54 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.97%. International Game Technology’s dividend payout ratio (DPR) is presently 76.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Susquehanna dropped their price target on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a report on Thursday, May 16th. Stifel Nicolaus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and raised their target price for the stock from $24.00 to $26.00 in a report on Thursday, May 30th. Truist Financial decreased their target price on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Wednesday, May 15th. B. Riley assumed coverage on International Game Technology in a research note on Friday, April 5th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, StockNews.com cut International Game Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.