Healthcare of Ontario Pension Plan Trust Fund Purchases 34,000 Shares of International Game Technology PLC (NYSE:IGT)

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in International Game Technology PLC (NYSE:IGT) by 38.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,000 shares of the company’s stock after buying an additional 34,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of International Game Technology worth $2,756,000 as of its most recent SEC filing.

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

International Game Technology Trading Up 0.1 %

Shares of NYSE IGT opened at $20.16 on Friday. International Game Technology PLC has a 1-year low of $18.90 and a 1-year high of $33.99. The company has a 50-day moving average of $20.39 and a two-hundred day moving average of $22.32. The company has a market cap of $4.01 billion, a PE ratio of 19.20 and a beta of 1.98. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 2.59.

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

International Game Technology Dividend Announcement

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

Analyst Ratings Changes

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

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.