State Street Corp Grows Stock Holdings in International Game Technology PLC (NYSE:IGT)

State Street Corp lifted its position in shares of International Game Technology PLC (NYSE:IGT) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,103,275 shares of the company’s stock after purchasing an additional 21,295 shares during the period. State Street Corp’s holdings in International Game Technology were worth $44,800,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Stifel Financial Corp grew its position in shares of International Game Technology by 22.2% in the 3rd quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock worth $1,197,000 after buying an additional 10,193 shares during the last quarter. Point72 DIFC Ltd boosted its holdings in International Game Technology by 7.9% in the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock valued at $274,000 after acquiring an additional 947 shares in the last quarter. III Capital Management purchased a new position in International Game Technology during the 3rd quarter valued at $1,440,000. Hotchkis & Wiley Capital Management LLC raised its holdings in International Game Technology by 80.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock worth $25,616,000 after purchasing an additional 537,330 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of International Game Technology in the 3rd quarter worth about $1,636,000. 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 “hold” rating to a “buy” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Price Performance

Shares of IGT opened at $17.07 on Friday. International Game Technology PLC has a fifty-two week low of $16.97 and a fifty-two week high of $28.23. The firm’s 50-day simple moving average is $19.86 and its two-hundred day simple moving average is $20.74. The stock has a market cap of $3.40 billion, a PE ratio of 28.45 and a beta of 1.91. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts anticipate that International Game Technology PLC will post 1 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Tuesday, November 26th. International Game Technology’s payout ratio is 133.33%.

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.