International Game Technology PLC (NYSE:IGT) Stock Holdings Lifted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,578,432 shares of the company's stock after purchasing an additional 787,543 shares during the quarter. Massachusetts Financial Services Co. MA owned about 4.31% of International Game Technology worth $151,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in International Game Technology by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock valued at $274,000 after purchasing an additional 622 shares during the last quarter. Point72 DIFC Ltd boosted its position in International Game Technology by 7.9% during the 3rd 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. Van ECK Associates Corp raised its holdings in International Game Technology by 5.1% in the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after purchasing an additional 1,145 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in International Game Technology by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company's stock valued at $990,000 after acquiring an additional 1,442 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in International Game Technology in the fourth quarter worth about $45,000. 44.33% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

IGT has been the subject of a number of recent research reports. StockNews.com raised shares of International Game Technology from a "hold" rating to a "buy" rating in a research report on Tuesday, March 25th. Truist Financial dropped their price objective on shares of International Game Technology from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, International Game Technology currently has an average rating of "Moderate Buy" and a consensus price target of $28.25.

International Game Technology Stock Performance

International Game Technology stock traded down $0.92 during midday trading on Thursday, hitting $15.03. 511,247 shares of the company's stock were exchanged, compared to its average volume of 1,172,243. 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 PLC has a 12-month low of $13.81 and a 12-month high of $24.13. The firm's 50 day simple moving average is $16.89 and its 200 day simple moving average is $18.38. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 25.03 and a beta of 1.66.

International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology's revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. Equities research analysts predict that International Game Technology PLC will post 1.24 EPS for the current year.

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.32%. International Game Technology's dividend payout ratio is currently 46.78%.

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.