Charles Schwab Investment Management Inc. Buys 31,408 Shares of International Game Technology PLC (NYSE:IGT)

Charles Schwab Investment Management Inc. lifted its stake in International Game Technology PLC (NYSE:IGT) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,163,601 shares of the company’s stock after purchasing an additional 31,408 shares during the period. Charles Schwab Investment Management Inc.’s holdings in International Game Technology were worth $20,549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Peregrine Capital Management LLC grew its position in International Game Technology by 1.7% during the fourth quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company’s stock valued at $11,318,000 after buying an additional 10,901 shares during the period. Rhumbline Advisers grew its position in International Game Technology by 2.0% during the fourth quarter. Rhumbline Advisers now owns 180,285 shares of the company’s stock valued at $3,184,000 after buying an additional 3,611 shares during the period. Van ECK Associates Corp grew its position in International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock valued at $419,000 after buying an additional 1,145 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology during the fourth quarter valued at approximately $45,000. Finally, Harbor Capital Advisors Inc. grew its position in International Game Technology by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock valued at $990,000 after buying an additional 1,442 shares during the period. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Price Performance

Shares of NYSE:IGT opened at $17.31 on Thursday. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology PLC has a 1-year low of $16.42 and a 1-year high of $24.13. The company has a market capitalization of $3.50 billion, a P/E ratio of 28.84 and a beta of 1.86. The firm’s 50 day simple moving average is $17.32 and its two-hundred day simple moving average is $19.04.

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 net margin of 4.17% and a return on equity of 16.17%. The firm had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $657.84 million. During the same period in the prior year, the firm earned $0.56 EPS. International Game Technology’s revenue for the quarter was down 4.4% compared to the same quarter last year. Research analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.62%. The ex-dividend date is Tuesday, March 11th. International Game Technology’s dividend payout ratio is currently 46.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IGT. StockNews.com lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Truist Financial cut their target price on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.25.

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.