Coastline Trust Co Takes $288,000 Position in International Game Technology PLC (NYSE:IGT)

Coastline Trust Co purchased a new stake in shares of International Game Technology PLC (NYSE:IGTFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,500 shares of the company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IGT. Invesco Ltd. boosted its position in shares of International Game Technology by 1,485.1% during the first quarter. Invesco Ltd. now owns 1,418,405 shares of the company’s stock valued at $35,006,000 after buying an additional 1,328,919 shares during the last quarter. Capital Research Global Investors boosted its position in shares of International Game Technology by 115.5% during the first quarter. Capital Research Global Investors now owns 2,331,200 shares of the company’s stock valued at $57,534,000 after buying an additional 1,249,200 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of International Game Technology by 87.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,343,145 shares of the company’s stock valued at $43,488,000 after buying an additional 1,092,029 shares during the last quarter. Norges Bank purchased a new stake in shares of International Game Technology during the fourth quarter valued at $21,798,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of International Game Technology by 7,413.8% during the first quarter. Balyasny Asset Management L.P. now owns 858,450 shares of the company’s stock valued at $23,006,000 after buying an additional 847,025 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Price Performance

Shares of NYSE:IGT opened at $22.02 on Thursday. The company has a market capitalization of $4.38 billion, a P/E ratio of 28.97 and a beta of 1.94. International Game Technology PLC has a 1-year low of $19.96 and a 1-year high of $33.99. The firm’s 50 day simple moving average is $24.52 and its two-hundred day simple moving average is $26.74. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.26 and a quick ratio of 1.07.

International Game Technology (NYSE:IGTGet Free Report) last issued its earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. 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. Research analysts expect that International Game Technology PLC will post 1.48 EPS for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 3.63%. International Game Technology’s dividend payout ratio is presently 105.26%.

Analyst Ratings Changes

Several research firms recently commented on IGT. Stifel Nicolaus reaffirmed 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. Argus cut their price target on International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Jefferies Financial Group restated a “hold” rating and set a $29.00 target price (down from $36.00) on shares of International Game Technology in a research report on Thursday, January 4th. Finally, Truist Financial decreased their price target on shares of International Game Technology from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Check Out Our Latest Analysis on International Game Technology

About International Game Technology

(Free Report)

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.

See Also

Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

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