JPMorgan Chase & Co. Sells 110,321 Shares of International Game Technology PLC (NYSE:IGT)

JPMorgan Chase & Co. decreased its position in International Game Technology PLC (NYSE:IGT) by 27.9% during the third quarter, HoldingsChannel.com reports. The firm owned 284,451 shares of the company’s stock after selling 110,321 shares during the quarter. JPMorgan Chase & Co.’s holdings in International Game Technology were worth $6,059,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Signaturefd LLC purchased a new position in International Game Technology in the third quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Game Technology in the 2nd quarter worth approximately $31,000. Hexagon Capital Partners LLC lifted its position in International Game Technology by 26.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after acquiring an additional 579 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of International Game Technology in the 2nd quarter worth $107,000. Finally, Quarry LP increased its holdings in International Game Technology by 99.1% in the 2nd quarter. Quarry LP now owns 5,460 shares of the company’s stock worth $112,000 after buying an additional 2,717 shares in the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IGT has been the topic of several research analyst reports. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Truist Financial dropped their target price on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday. One research analyst has 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

International Game Technology Price Performance

Shares of NYSE:IGT opened at $17.52 on Thursday. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The stock has a market capitalization of $3.49 billion, a PE ratio of 29.20 and a beta of 1.92. The firm’s 50 day moving average price is $18.64 and its 200-day moving average price is $20.32. International Game Technology PLC has a twelve month low of $16.83 and a twelve month high of $27.27.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.24). The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities research analysts expect that International Game Technology PLC will post 1 EPS for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Tuesday, November 26th. International Game Technology’s dividend payout ratio (DPR) is currently 133.33%.

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.