International Game Technology PLC (NYSE:IGT) Stock Holdings Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in International Game Technology PLC (NYSE:IGT) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,622 shares of the company’s stock after purchasing an additional 3,144 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in International Game Technology were worth $831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of International Game Technology by 23.1% during the fourth quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock valued at $74,495,000 after buying an additional 509,722 shares during the last quarter. M&G Plc bought a new stake in International Game Technology during the 2nd quarter valued at $8,850,000. Seven Eight Capital LP acquired a new position in International Game Technology during the 2nd quarter worth $1,182,000. Solel Partners LP bought a new position in shares of International Game Technology in the second quarter worth $43,478,000. Finally, SG Americas Securities LLC increased its holdings in shares of International Game Technology by 10.8% during the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after purchasing an additional 836 shares during the period. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Stock Performance

Shares of IGT opened at $20.38 on Monday. The company has a 50-day moving average of $21.52 and a two-hundred day moving average of $20.95. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 19.41 and a beta of 1.95. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.84 and a quick ratio of 0.71. International Game Technology PLC has a one year low of $18.90 and a one year high of $31.55.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. International Game Technology’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, equities research analysts expect that International Game Technology PLC will post 1.48 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Tuesday, August 13th. International Game Technology’s dividend payout ratio is currently 76.19%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. B. Riley reiterated a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research note on Friday, July 26th. Finally, StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, International Game Technology presently has an average rating of “Moderate Buy” and a consensus price target of $28.67.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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, as well as iLottery solutions and services.