International Game Technology PLC (NYSE:IGT) Stake Raised by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its stake in shares of International Game Technology PLC (NYSE:IGT – Get Rating) by 473.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,083 shares of the company’s stock after buying an additional 15,756 shares during the period. Tower Research Capital LLC TRC’s holdings in International Game Technology were worth $301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in 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 buying an additional 534 shares during the period. Brown Brothers Harriman & Co. purchased a new position in International Game Technology during the 1st quarter valued at about $49,000. Great West Life Assurance Co. Can purchased a new position in International Game Technology during the 3rd quarter valued at about $46,000. CoreCap Advisors LLC purchased a new position in International Game Technology during the 2nd quarter valued at about $59,000. Finally, Nisa Investment Advisors LLC grew its stake in International Game Technology by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,957 shares of the company’s stock valued at $79,000 after acquiring an additional 667 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Trading Up 1.1 %

Shares of NYSE IGT opened at $26.85 on Thursday. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 15.26 and a beta of 1.87. The business has a 50 day simple moving average of $25.21 and a 200 day simple moving average of $22.05. International Game Technology PLC has a 52 week low of $15.01 and a 52 week high of $27.82. 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:IGT – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.33 by $0.07. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. International Game Technology had a return on equity of 24.78% and a net margin of 8.56%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS. On average, research analysts predict that International Game Technology PLC will post 2.2 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, March 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.80 annualized dividend and a yield of 2.98%. International Game Technology’s dividend payout ratio (DPR) is currently 45.45%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IGT. Credit Suisse Group lifted their target price on International Game Technology from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on International Game Technology from $29.00 to $33.00 in a research note on Wednesday. Stifel Nicolaus lifted their target price on International Game Technology from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, February 7th. Finally, StockNews.com raised International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 15th. Five 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, International Game Technology currently has a consensus rating of “Buy” and an average price target of $37.20.

About International Game Technology

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International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and Digital & Betting segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.