Shares of International Game Technology PLC (NYSE:IGT) saw strong trading volume on Thursday following a dividend announcement from the company. 13,612,660 shares changed hands during mid-day trading, an increase of 403% from the previous session’s volume of 2,705,832 shares.The stock last traded at $15.93 and had previously closed at $12.90.

The newly announced dividend which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.02%. International Game Technology’s dividend payout ratio (DPR) is presently 81.63%.

Separately, ValuEngine downgraded International Game Technology from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. International Game Technology currently has a consensus rating of “Buy” and an average price target of $25.00.

The stock has a 50 day moving average of $13.72 and a two-hundred day moving average of $13.41. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.74 and a current ratio of 0.83. The firm has a market capitalization of $2.75 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.01 and a beta of 1.31.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Thursday, November 14th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.08). International Game Technology had a negative net margin of 0.72% and a positive return on equity of 8.51%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. Sell-side analysts predict that International Game Technology PLC will post 1.33 EPS for the current year.

Several hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its position in International Game Technology by 3,247.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,975 shares of the company’s stock worth $28,000 after buying an additional 1,916 shares during the period. Tower Research Capital LLC TRC increased its position in International Game Technology by 44.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,697 shares of the company’s stock worth $74,000 after buying an additional 1,751 shares during the period. BNP Paribas Arbitrage SA increased its position in International Game Technology by 37.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,048 shares of the company’s stock worth $117,000 after buying an additional 2,478 shares during the period. Trellus Management Company LLC bought a new position in International Game Technology in the 2nd quarter worth approximately $130,000. Finally, NumerixS Investment Technologies Inc increased its position in International Game Technology by 13.6% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,000 shares of the company’s stock worth $130,000 after buying an additional 1,200 shares during the period. 39.76% of the stock is currently owned by institutional investors and hedge funds.

About International Game Technology (NYSE:IGT)

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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