Raymond James & Associates Raises Stock Position in International Game Technology PLC (NYSE:IGT)

Raymond James & Associates raised its position in shares of International Game Technology PLC (NYSE:IGTGet Rating) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 228,725 shares of the company’s stock after acquiring an additional 4,512 shares during the quarter. Raymond James & Associates’ holdings in International Game Technology were worth $3,614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in shares of International Game Technology by 84.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after purchasing an additional 534 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in International Game Technology during the 1st quarter worth approximately $49,000. Saltoro Capital LP purchased a new position in International Game Technology in the second quarter valued at $55,000. CoreCap Advisors LLC acquired a new position in shares of International Game Technology during the second quarter worth about $59,000. Finally, Great West Life Assurance Co. Can grew its holdings in International Game Technology by 35.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,031 shares of the company’s stock worth $106,000 after acquiring an additional 1,048 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 15th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $35.00.

International Game Technology Stock Performance

International Game Technology stock opened at $24.59 on Friday. International Game Technology PLC has a fifty-two week low of $15.01 and a fifty-two week high of $30.84. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 13.97 and a beta of 1.85. The stock has a fifty day moving average of $23.88 and a two-hundred day moving average of $20.58. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.16.

International Game Technology (NYSE:IGTGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $1.06. International Game Technology had a net margin of 8.56% and a return on equity of 24.78%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.31 EPS. International Game Technology’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts anticipate that International Game Technology PLC will post 1.92 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 28th were issued a $0.20 dividend. The ex-dividend date was Friday, November 25th. This represents a $0.80 annualized dividend and a yield of 3.25%. International Game Technology’s dividend payout ratio is presently 45.45%.

International Game Technology Profile

(Get Rating)

International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.

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

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