State Board of Administration of Florida Retirement System boosted its stake in shares of International Game Technology (NYSE:IGT) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,875 shares of the company’s stock after buying an additional 1,773 shares during the period. State Board of Administration of Florida Retirement System’s holdings in International Game Technology were worth $1,298,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of International Game Technology by 905.5% in the third quarter. Acadian Asset Management LLC now owns 2,601,826 shares of the company’s stock valued at $63,435,000 after buying an additional 2,343,060 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of International Game Technology during the fourth quarter valued at approximately $38,969,000. JPMorgan Chase & Co. increased its position in shares of International Game Technology by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 2,568,622 shares of the company’s stock valued at $62,623,000 after buying an additional 1,396,424 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of International Game Technology by 6,544.5% in the third quarter. Principal Financial Group Inc. now owns 1,107,775 shares of the company’s stock valued at $27,008,000 after buying an additional 1,091,103 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of International Game Technology by 470.9% in the third quarter. Teachers Advisors LLC now owns 878,627 shares of the company’s stock valued at $21,421,000 after buying an additional 724,727 shares during the last quarter. Institutional investors own 40.84% of the company’s stock.

Institutional Ownership by Quarter for International Game Technology (NYSE:IGT)

International Game Technology (NYSE:IGT) opened at 23.97 on Tuesday. International Game Technology has a 52 week low of $16.65 and a 52 week high of $32.07. The firm has a 50-day moving average of $26.36 and a 200-day moving average of $26.23. The company has a market capitalization of $4.85 billion, a P/E ratio of 22.85 and a beta of 1.51.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Thursday, March 9th. The company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.36. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. International Game Technology had a net margin of 0.99% and a return on equity of 12.45%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Analysts anticipate that International Game Technology will post $2.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Thursday, March 23rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Tuesday, March 21st. International Game Technology’s dividend payout ratio is currently 307.69%.

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IGT has been the topic of a number of research analyst reports. Bank of America Corp downgraded shares of International Game Technology from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Thursday, January 26th. Telsey Advisory Group dropped their target price on shares of International Game Technology from $33.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday, March 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.50.

About International Game Technology

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

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