Comerica Bank lessened its stake in International Game Technology PLC (NYSE:IGT) by 66.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 73,616 shares of the company’s stock after selling 148,665 shares during the quarter. Comerica Bank’s holdings in International Game Technology were worth $1,026,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its holdings in International Game Technology by 336.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,564,264 shares of the company’s stock worth $30,894,000 after purchasing an additional 1,206,152 shares in the last quarter. Morgan Stanley increased its holdings in International Game Technology by 196.1% during the 3rd quarter. Morgan Stanley now owns 584,961 shares of the company’s stock worth $11,553,000 after purchasing an additional 387,401 shares in the last quarter. Vanguard Group Inc. increased its holdings in International Game Technology by 50.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,700,216 shares of the company’s stock worth $33,580,000 after purchasing an additional 571,981 shares in the last quarter. Bank of Montreal Can increased its holdings in International Game Technology by 33.6% during the 4th quarter. Bank of Montreal Can now owns 99,313 shares of the company’s stock worth $1,453,000 after purchasing an additional 24,968 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in International Game Technology during the 4th quarter worth about $94,000. 41.69% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on IGT shares. Credit Suisse Group restated a “neutral” rating on shares of International Game Technology in a report on Wednesday, March 20th. ValuEngine cut International Game Technology from a “sell” rating to a “strong sell” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $23.64.

Shares of NYSE IGT opened at $13.00 on Monday. The stock has a market capitalization of $2.68 billion, a PE ratio of 13.27, a P/E/G ratio of 1.16 and a beta of 1.36. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.69 and a quick ratio of 0.60. International Game Technology PLC has a fifty-two week low of $12.49 and a fifty-two week high of $26.77.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Monday, May 20th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a net margin of 2.56% and a return on equity of 7.19%. International Game Technology’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that International Game Technology PLC will post 1.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Friday, May 31st. International Game Technology’s payout ratio is 81.63%.

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International Game Technology Company Profile

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.

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

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