International Game Technology PLC (NYSE:IGT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,132,193 shares of the company's stock after acquiring an additional 164,935 shares during the period. Charles Schwab Investment Management Inc. owned 0.57% of International Game Technology worth $24,116,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Solel Partners LP purchased a new position in shares of International Game Technology in the 2nd quarter valued at approximately $43,478,000. Long Pond Capital LP purchased a new position in International Game Technology in the 2nd quarter valued at $32,053,000. Massachusetts Financial Services Co. MA increased its stake in International Game Technology by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company's stock valued at $158,431,000 after buying an additional 1,169,999 shares during the period. Deprince Race & Zollo Inc. raised its position in International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company's stock worth $47,343,000 after buying an additional 995,570 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of International Game Technology in the 2nd quarter worth $8,850,000. 44.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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 given a buy rating to the stock. According to MarketBeat, International Game Technology presently has an average rating of "Moderate Buy" and an average target price of $28.67.

International Game Technology Price Performance

Shares of NYSE IGT traded up $0.20 during midday trading on Friday, hitting $19.68. The company had a trading volume of 726,658 shares, compared to its average volume of 1,105,273. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 32.47 and a beta of 1.91. International Game Technology PLC has a twelve month low of $18.56 and a twelve month high of $28.82. The business has a 50-day simple moving average of $20.31 and a two-hundred day simple moving average of $20.83. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

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

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology's dividend payout ratio (DPR) is presently 133.34%.

About International Game Technology

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.