California State Teachers Retirement System Sells 6,938 Shares of International Game Technology PLC (NYSE:IGT)

California State Teachers Retirement System decreased its holdings in International Game Technology PLC (NYSE:IGT) by 38.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,948 shares of the company’s stock after selling 6,938 shares during the quarter. California State Teachers Retirement System’s holdings in International Game Technology were worth $247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bayesian Capital Management LP bought a new stake in International Game Technology during the 1st quarter worth about $285,000. Price T Rowe Associates Inc. MD grew its stake in shares of International Game Technology by 14.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,965 shares of the company’s stock valued at $700,000 after purchasing an additional 3,935 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in International Game Technology by 63.4% during the 1st quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock worth $242,880,000 after buying an additional 4,170,813 shares in the last quarter. Gabelli Funds LLC boosted its holdings in International Game Technology by 12.5% in the first quarter. Gabelli Funds LLC now owns 198,100 shares of the company’s stock valued at $4,475,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in International Game Technology by 8.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 285,105 shares of the company’s stock valued at $6,441,000 after purchasing an additional 22,105 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analysts Set New Price Targets

IGT has been the topic of several analyst reports. Truist Financial cut their price objective on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. 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. StockNews.com lowered shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Stifel Nicolaus increased their target price on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Price Performance

Shares of NYSE IGT opened at $21.84 on Monday. The company has a fifty day moving average price of $21.00 and a 200 day moving average price of $21.81. International Game Technology PLC has a 1-year low of $18.90 and a 1-year high of $33.48. The firm has a market cap of $4.35 billion, a PE ratio of 20.80 and a beta of 1.98. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. During the same period last year, the company earned $0.45 earnings per share. International Game Technology’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that International Game Technology PLC will post 1.43 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, August 13th. International Game Technology’s dividend payout ratio (DPR) is currently 76.19%.

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.