Raymond James & Associates Has $5.05 Million Stake in International Game Technology PLC (NYSE:IGT)

Raymond James & Associates lowered its position in International Game Technology PLC (NYSE:IGT – Get Rating) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,823 shares of the company’s stock after selling 5,902 shares during the quarter. Raymond James & Associates owned 0.11% of International Game Technology worth $5,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UBS Group AG raised its stake in shares of International Game Technology by 8.3% during the 4th quarter. UBS Group AG now owns 28,562 shares of the company’s stock worth $648,000 after purchasing an additional 2,199 shares during the period. Van ECK Associates Corp lifted its position in International Game Technology by 36.8% in the fourth quarter. Van ECK Associates Corp now owns 58,860 shares of the company’s stock valued at $1,335,000 after purchasing an additional 15,835 shares during the last quarter. Boston Partners increased its stake in shares of International Game Technology by 3.4% during the fourth quarter. Boston Partners now owns 7,025,021 shares of the company’s stock valued at $157,905,000 after buying an additional 230,692 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of International Game Technology by 8.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,882 shares of the company’s stock valued at $292,000 after buying an additional 969 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of International Game Technology by 34.2% during the fourth quarter. IFP Advisors Inc now owns 1,899 shares of the company’s stock valued at $60,000 after buying an additional 484 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Upgrades and Downgrades

IGT has been the topic of a number of recent research reports. StockNews.com initiated coverage on International Game Technology in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Susquehanna raised International Game Technology from a “neutral” rating to a “positive” rating and set a $31.00 price objective for the company in a research note on Thursday, May 11th. Credit Suisse Group lifted their price target on International Game Technology from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft lifted their price target on International Game Technology from $29.00 to $33.00 in a research report on Wednesday, March 1st. Finally, B. Riley began coverage on International Game Technology in a report on Thursday, April 20th. They issued a “buy” rating and a $43.00 price target for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, International Game Technology currently has a consensus rating of “Buy” and an average target price of $39.00.

International Game Technology Trading Up 0.6 %

IGT stock opened at $26.15 on Tuesday. International Game Technology PLC has a 52 week low of $15.01 and a 52 week high of $28.98. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 24.44 and a beta of 1.86. The company has a quick ratio of 0.90, a current ratio of 1.03 and a debt-to-equity ratio of 2.96. The business has a fifty day simple moving average of $26.47 and a 200-day simple moving average of $25.36.

International Game Technology (NYSE:IGT – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. International Game Technology had a net margin of 5.17% and a return on equity of 28.84%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. International Game Technology’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that International Game Technology PLC will post 1.68 EPS for the current year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, May 25th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $0.80 annualized dividend and a yield of 3.06%. International Game Technology’s dividend payout ratio is 74.77%.

International Game Technology Company Profile

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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.