Commonwealth Equity Services LLC lifted its stake in shares of International Game Technology PLC (NYSE:IGT) by 15.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,691 shares of the company’s stock after buying an additional 1,883 shares during the quarter. Commonwealth Equity Services LLC’s holdings in International Game Technology were worth $360,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of International Game Technology in the 2nd quarter valued at approximately $65,595,000. BlackRock Inc. boosted its position in International Game Technology by 16.6% during the 2nd quarter. BlackRock Inc. now owns 10,954,614 shares of the company’s stock valued at $262,471,000 after purchasing an additional 1,562,197 shares during the period. FMR LLC boosted its position in International Game Technology by 222.8% during the 1st quarter. FMR LLC now owns 2,057,614 shares of the company’s stock valued at $26,729,000 after purchasing an additional 1,420,212 shares during the period. Geode Capital Management LLC boosted its position in International Game Technology by 123.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,734,625 shares of the company’s stock valued at $41,561,000 after purchasing an additional 959,499 shares during the period. Finally, Morgan Stanley boosted its position in International Game Technology by 147.7% during the 2nd quarter. Morgan Stanley now owns 1,248,905 shares of the company’s stock valued at $29,924,000 after purchasing an additional 744,706 shares during the period. Institutional investors own 43.77% of the company’s stock.
IGT has been the subject of a number of analyst reports. Berenberg Bank initiated coverage on International Game Technology in a research report on Tuesday, October 19th. They set a “buy” rating and a $35.00 price target for the company. Credit Suisse Group boosted their price target on International Game Technology from $36.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 10th. Deutsche Bank Aktiengesellschaft boosted their price target on International Game Technology from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th. Stifel Nicolaus assumed coverage on International Game Technology in a report on Thursday, December 16th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Jefferies Financial Group lowered International Game Technology from a “buy” rating to a “hold” rating and cut their price objective for the company from $38.00 to $33.00 in a report on Wednesday, November 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $39.17.
International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, November 9th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. The company had revenue of $984.00 million for the quarter, compared to analyst estimates of $981.00 million. International Game Technology had a negative return on equity of 2.85% and a net margin of 5.63%. International Game Technology’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. Analysts expect that International Game Technology PLC will post 0.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 7th. Investors of record on Tuesday, November 23rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Monday, November 22nd. International Game Technology’s payout ratio is 75.47%.
About International Game Technology
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 and Global Gaming segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.
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