Ituran Location and Control Ltd. (NASDAQ:ITRN) Shares Sold by Inlet Private Wealth LLC

Inlet Private Wealth LLC lessened its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 9.6% in the fourth quarter, HoldingsChannel reports. The firm owned 135,850 shares of the industrial products company’s stock after selling 14,350 shares during the quarter. Inlet Private Wealth LLC’s holdings in Ituran Location and Control were worth $4,232,000 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. Blue Trust Inc. lifted its position in Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after buying an additional 598 shares during the period. Copeland Capital Management LLC acquired a new position in shares of Ituran Location and Control during the 3rd quarter valued at about $50,000. R Squared Ltd acquired a new position in shares of Ituran Location and Control during the 4th quarter valued at about $117,000. Public Employees Retirement System of Ohio purchased a new position in shares of Ituran Location and Control during the 3rd quarter worth about $137,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Ituran Location and Control by 214.2% in the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 4,098 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

Shares of ITRN stock opened at $33.39 on Friday. The firm has a market capitalization of $664.26 million, a price-to-earnings ratio of 12.79 and a beta of 1.15. Ituran Location and Control Ltd. has a one year low of $24.12 and a one year high of $34.35. The company has a 50 day moving average price of $31.42 and a 200 day moving average price of $28.58.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Thursday, November 21st. The industrial products company reported $0.69 earnings per share for the quarter. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Ituran Location and Control Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was Monday, December 23rd. Ituran Location and Control’s payout ratio is currently 59.77%.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.