Harbor Capital Advisors Inc. Boosts Stock Position in International Game Technology PLC (NYSE:IGT)

Harbor Capital Advisors Inc. grew its holdings in International Game Technology PLC (NYSE:IGT - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,851 shares of the company's stock after purchasing an additional 16,803 shares during the period. Harbor Capital Advisors Inc.'s holdings in International Game Technology were worth $1,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC raised its holdings in International Game Technology by 7,771.0% in the 1st quarter. GAMMA Investing LLC now owns 5,431 shares of the company's stock valued at $880,000 after buying an additional 5,362 shares during the period. Mackenzie Financial Corp increased its position in shares of International Game Technology by 15.3% during the fourth quarter. Mackenzie Financial Corp now owns 31,032 shares of the company's stock valued at $548,000 after acquiring an additional 4,124 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of International Game Technology in the 4th quarter valued at approximately $427,000. Two Sigma Investments LP purchased a new stake in shares of International Game Technology in the 4th quarter valued at approximately $238,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of International Game Technology by 123.8% in the 4th quarter. Two Sigma Advisers LP now owns 47,900 shares of the company's stock worth $846,000 after acquiring an additional 26,500 shares during the last quarter. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Down 3.2%

Shares of NYSE:IGT traded down $0.48 during trading on Friday, hitting $14.59. The company's stock had a trading volume of 1,812,156 shares, compared to its average volume of 1,316,377. International Game Technology PLC has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The business has a 50 day moving average price of $15.81 and a two-hundred day moving average price of $16.92. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The company has a market capitalization of $2.95 billion, a PE ratio of 24.32 and a beta of 1.53.

International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $583.00 million for the quarter, compared to analyst estimates of $630.30 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.80 dividend on an annualized basis and a yield of 5.48%. International Game Technology's dividend payout ratio is currently 55.56%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IGT shares. Truist Financial dropped their target price on shares of International Game Technology from $20.00 to $18.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Susquehanna reiterated a "positive" rating and issued a $25.00 price objective (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Wall Street Zen lowered International Game Technology from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Argus cut International Game Technology from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $20.00 price target (down from $22.00) on shares of International Game Technology in a research note on Wednesday, May 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, International Game Technology presently has an average rating of "Moderate Buy" and an average price target of $23.25.

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.