Wellington Management Group LLP Trims Stake in International Game Technology PLC (NYSE:IGT)

Wellington Management Group LLP trimmed its stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 17.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,385,370 shares of the company's stock after selling 286,645 shares during the period. Wellington Management Group LLP owned approximately 0.70% of International Game Technology worth $29,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IGT. State Street Corp increased its holdings in International Game Technology by 1.0% during the third quarter. State Street Corp now owns 2,103,275 shares of the company's stock valued at $44,800,000 after buying an additional 21,295 shares during the last quarter. Stifel Financial Corp increased its holdings in International Game Technology by 22.2% during the third quarter. Stifel Financial Corp now owns 56,179 shares of the company's stock valued at $1,197,000 after buying an additional 10,193 shares during the last quarter. Point72 DIFC Ltd increased its holdings in International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock valued at $274,000 after buying an additional 947 shares during the last quarter. III Capital Management purchased a new stake in International Game Technology during the third quarter valued at approximately $1,440,000. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in International Game Technology by 80.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company's stock valued at $25,616,000 after buying an additional 537,330 shares during the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.67.

International Game Technology Price Performance

Shares of NYSE:IGT traded down $0.01 during midday trading on Friday, reaching $18.78. 327,018 shares of the company were exchanged, compared to its average volume of 1,096,717. International Game Technology PLC has a one year low of $18.56 and a one year high of $28.82. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The business's fifty day moving average is $20.13 and its two-hundred day moving average is $20.80. The stock has a market cap of $3.74 billion, a PE ratio of 31.30 and a beta of 1.91.

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

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 4.26%. International Game Technology's dividend payout ratio (DPR) is currently 133.34%.

International Game Technology 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.