Massachusetts Financial Services Co. MA Buys 47,442 Shares of International Game Technology PLC (NYSE:IGT)

Massachusetts Financial Services Co. MA boosted its stake in shares of International Game Technology PLC (NYSE:IGT - Free Report) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,790,889 shares of the company's stock after acquiring an additional 47,442 shares during the period. Massachusetts Financial Services Co. MA owned 3.91% of International Game Technology worth $165,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in International Game Technology by 9.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 34,009 shares of the company's stock valued at $768,000 after acquiring an additional 3,000 shares during the last quarter. Toronto Dominion Bank acquired a new stake in shares of International Game Technology in the 1st quarter valued at approximately $908,000. Gamco Investors INC. ET AL grew its holdings in shares of International Game Technology by 8.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 285,105 shares of the company's stock valued at $6,441,000 after purchasing an additional 22,105 shares during the last quarter. Gabelli Funds LLC lifted its stake in International Game Technology by 12.5% in the 1st quarter. Gabelli Funds LLC now owns 198,100 shares of the company's stock valued at $4,475,000 after purchasing an additional 22,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in International Game Technology by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,965 shares of the company's stock valued at $700,000 after buying an additional 3,935 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Trading Up 1.3 %

IGT opened at $19.24 on Friday. The company has a fifty day moving average of $20.69 and a 200-day moving average of $20.88. The stock has a market cap of $3.83 billion, a PE ratio of 32.05 and a beta of 1.96. 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 PLC has a twelve month low of $18.56 and a twelve month high of $28.82.

International Game Technology (NYSE:IGT - Get Free Report) last issued 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). The firm had revenue of $587.00 million for the quarter, compared to analysts' expectations of $591.50 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 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. On average, sell-side analysts predict that International Game Technology PLC will post 1 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. International Game Technology's dividend payout ratio (DPR) is presently 133.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IGT shares. StockNews.com raised International Game Technology from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Stifel Nicolaus upped their price target on shares of International Game Technology from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Finally, B. Riley reiterated a "buy" rating and set a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.67.

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.