Fifth Third Wealth Advisors LLC Purchases Shares of 14,990 International Game Technology PLC (NYSE:IGT)

Fifth Third Wealth Advisors LLC purchased a new stake in shares of International Game Technology PLC (NYSE:IGT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,990 shares of the company’s stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in International Game Technology by 10.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock valued at $231,000 after purchasing an additional 805 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of International Game Technology in the fourth quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of International Game Technology by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,393 shares of the company’s stock valued at $1,354,000 after acquiring an additional 973 shares during the period. Highlander Capital Management LLC bought a new stake in shares of International Game Technology in the fourth quarter valued at approximately $27,000. Finally, Principal Financial Group Inc. boosted its position in shares of International Game Technology by 10.4% in the fourth quarter. Principal Financial Group Inc. now owns 12,545 shares of the company’s stock valued at $344,000 after acquiring an additional 1,186 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IGT. Argus reduced their target price on International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Stifel Nicolaus upgraded International Game Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $24.00 to $26.00 in a research note on Thursday, May 30th. B. Riley began coverage on International Game Technology in a research report on Friday, April 5th. They issued a “buy” rating and a $30.00 price objective for the company. StockNews.com upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Susquehanna lowered their price objective on International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research report on Thursday, May 16th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Game Technology has an average rating of “Moderate Buy” and a consensus price target of $28.00.

International Game Technology Stock Up 0.4 %

Shares of NYSE:IGT traded up $0.07 during trading on Thursday, hitting $20.07. 1,345,561 shares of the company’s stock traded hands, compared to its average volume of 1,156,314. International Game Technology PLC has a 52 week low of $18.90 and a 52 week high of $33.99. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 2.59. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 19.11 and a beta of 1.94. The company has a 50-day moving average price of $20.29 and a 200-day moving average price of $23.26.

International Game Technology (NYSE:IGT) last released its quarterly earnings data 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. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.49 EPS. International Game Technology’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts forecast that International Game Technology PLC will post 1.53 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.99%. The ex-dividend date was Thursday, May 30th. International Game Technology’s payout ratio is 76.19%.

About International Game Technology

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.