International Game Technology (IGT) Stake Increased by California State Teachers Retirement System

California State Teachers Retirement System increased its position in shares of International Game Technology (NYSE:IGT) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,045 shares of the company’s stock after purchasing an additional 6,537 shares during the quarter. California State Teachers Retirement System owned 0.10% of International Game Technology worth $3,643,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of International Game Technology by 38.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock valued at $118,000 after buying an additional 1,398 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of International Game Technology in the first quarter valued at approximately $125,000. Pinnacle Associates Ltd. increased its position in shares of International Game Technology by 14.4% during the second quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock worth $210,000 after purchasing an additional 1,445 shares in the last quarter. Cadence Capital Management LLC increased its position in shares of International Game Technology by 18.2% during the second quarter. Cadence Capital Management LLC now owns 12,670 shares of the company’s stock worth $232,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of International Game Technology by 3.4% during the first quarter. Amalgamated Bank now owns 13,516 shares of the company’s stock worth $320,000 after purchasing an additional 441 shares in the last quarter. 38.05% of the stock is owned by institutional investors.

Several analysts have issued reports on IGT shares. BidaskClub raised International Game Technology from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine lowered International Game Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Bank of America Corporation raised International Game Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $30.00 in a research note on Wednesday, September 20th. Finally, Deutsche Bank AG started coverage on International Game Technology in a research note on Tuesday, September 26th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. International Game Technology has a consensus rating of “Hold” and an average target price of $28.13.

International Game Technology (NYSE IGT) traded up $3.60 on Wednesday, hitting $27.45. The stock had a trading volume of 8,356,300 shares, compared to its average volume of 1,523,535. The stock has a market cap of $4,827.96, a P/E ratio of 13.48 and a beta of 1.45. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02. International Game Technology has a fifty-two week low of $17.25 and a fifty-two week high of $32.07.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.16. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. analysts forecast that International Game Technology will post 1.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, November 27th. This represents a $0.80 dividend on an annualized basis and a yield of 2.91%. International Game Technology’s payout ratio is -142.86%.

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International Game Technology Company Profile

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.

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

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