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

Raymond James & Associates raised its stake in shares of International Game Technology PLC (NYSE:IGTGet Rating) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 228,725 shares of the company’s stock after buying an additional 4,512 shares during the period. Raymond James & Associates owned about 0.11% of International Game Technology worth $3,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in International Game Technology by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after acquiring an additional 534 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of International Game Technology in the first quarter worth approximately $49,000. Saltoro Capital LP bought a new position in International Game Technology in the second quarter worth approximately $55,000. CoreCap Advisors LLC purchased a new position in shares of International Game Technology during the 2nd quarter worth $59,000. Finally, Great West Life Assurance Co. Can grew its position in shares of 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 valued at $106,000 after acquiring an additional 1,048 shares during the period. 44.33% of the stock is owned by institutional investors.

International Game Technology Trading Down 0.0 %

Shares of IGT stock opened at $24.59 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.16. The stock has a fifty day simple moving average of $23.88 and a two-hundred day simple moving average of $20.58. The firm has a market capitalization of $5.01 billion, a PE ratio of 13.97 and a beta of 1.85. International Game Technology PLC has a 52-week low of $15.01 and a 52-week high of $30.84.

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

International Game Technology Announces Dividend

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

Analysts Set New Price Targets

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

About International Game Technology

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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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