International Game Technology PLC (NYSE:IGT) Shares Sold by Sasco Capital Inc. CT

Sasco Capital Inc. CT lessened its stake in International Game Technology PLC (NYSE:IGT - Free Report) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,112,336 shares of the company's stock after selling 54,570 shares during the period. International Game Technology accounts for about 3.5% of Sasco Capital Inc. CT's holdings, making the stock its 7th biggest position. Sasco Capital Inc. CT owned approximately 0.56% of International Game Technology worth $23,693,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in shares of International Game Technology by 63.4% during the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company's stock worth $242,880,000 after acquiring an additional 4,170,813 shares during the period. Solel Partners LP acquired a new stake in shares of International Game Technology in the 2nd quarter valued at approximately $43,478,000. Long Pond Capital LP purchased a new stake in shares of International Game Technology in the second quarter valued at approximately $32,053,000. Massachusetts Financial Services Co. MA grew its holdings in International Game Technology by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company's stock worth $158,431,000 after acquiring an additional 1,169,999 shares during the period. Finally, Deprince Race & Zollo Inc. raised its position in International Game Technology by 75.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company's stock worth $47,343,000 after acquiring an additional 995,570 shares in the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Stock Down 1.1 %

International Game Technology stock traded down $0.22 during midday trading on Tuesday, hitting $18.97. 2,166,463 shares of the stock were exchanged, compared to its average volume of 1,119,036. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The company has a 50 day moving average price of $20.90 and a two-hundred day moving average price of $20.92. The firm has a market cap of $3.78 billion, a P/E ratio of 31.98 and a beta of 1.96. International Game Technology PLC has a 1 year low of $18.65 and a 1 year high of $28.82.

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 company had revenue of $587.00 million for 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 firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. On average, sell-side analysts predict that International Game Technology PLC will post 1.16 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Tuesday, November 26th. International Game Technology's payout ratio is currently 133.34%.

Analyst Ratings Changes

IGT has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of International Game Technology from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. StockNews.com raised International Game Technology from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Finally, B. Riley reissued a "buy" rating and issued a $30.00 target price 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 issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.