The Manufacturers Life Insurance Company Has $846,000 Stock Holdings in International Game Technology PLC (NYSE:IGT)

The Manufacturers Life Insurance Company reduced its holdings in shares of International Game Technology PLC (NYSE:IGT) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,724 shares of the company’s stock after selling 898 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in International Game Technology were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IGT. Solel Partners LP bought a new position in International Game Technology during the second quarter valued at about $43,478,000. Long Pond Capital LP purchased a new position in International Game Technology in the second quarter valued at about $32,053,000. Massachusetts Financial Services Co. MA grew its position in shares of International Game Technology by 17.8% during 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 acquiring an additional 1,169,999 shares during the period. Deprince Race & Zollo Inc. lifted its stake 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 valued at $47,343,000 after purchasing an additional 995,570 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of International Game Technology by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,132,193 shares of the company’s stock worth $24,116,000 after acquiring an additional 164,935 shares during the period. 44.33% of the stock is owned by institutional investors.

International Game Technology Price Performance

Shares of IGT stock opened at $18.80 on Friday. The business’s fifty day moving average is $20.16 and its 200 day moving average is $20.82. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 31.33 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.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.24). The company had revenue of $587.00 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Research analysts expect that International Game Technology PLC will post 1 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Tuesday, November 26th. International Game Technology’s dividend payout ratio is 133.33%.

Analysts Set New Price Targets

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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.