Lazard Asset Management LLC Increases Holdings in International Game Technology PLC (NYSE:IGT)

Lazard Asset Management LLC increased its holdings in shares of International Game Technology PLC (NYSE:IGT) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,927,433 shares of the company’s stock after purchasing an additional 1,267,625 shares during the quarter. Lazard Asset Management LLC owned approximately 5.49% of International Game Technology worth $192,978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IGT. Jacobs Levy Equity Management Inc. increased its holdings in International Game Technology by 1,195.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 653,345 shares of the company’s stock valued at $11,538,000 after acquiring an additional 602,905 shares during the last quarter. Graham Capital Management L.P. lifted its position in shares of International Game Technology by 476.4% in the fourth quarter. Graham Capital Management L.P. now owns 160,610 shares of the company’s stock worth $2,836,000 after buying an additional 132,746 shares in the last quarter. Deutsche Bank AG boosted its stake in International Game Technology by 9.3% during the fourth quarter. Deutsche Bank AG now owns 446,731 shares of the company’s stock valued at $7,889,000 after buying an additional 38,027 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in International Game Technology by 27.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,428,893 shares of the company’s stock valued at $25,234,000 after buying an additional 305,912 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in International Game Technology by 3.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,783,234 shares of the company’s stock worth $49,152,000 after acquiring an additional 98,502 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IGT. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Stifel Nicolaus lowered their price objective on International Game Technology from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Truist Financial cut their target price on International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.75.

International Game Technology Price Performance

Shares of IGT opened at $17.23 on Monday. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The company’s fifty day moving average price is $16.43 and its 200-day moving average price is $17.69. International Game Technology PLC has a 1-year low of $13.81 and a 1-year high of $24.13. The firm has a market capitalization of $3.48 billion, a PE ratio of 28.72 and a beta of 1.61.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.10). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. During the same quarter last year, the company posted $0.56 EPS. International Game Technology’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts predict that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.64%. International Game Technology’s payout ratio is currently 46.78%.

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.