Analyst IMS Investment Management Services Ltd. Reduces Stake in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Analyst IMS Investment Management Services Ltd. lowered its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 0.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 356,956 shares of the industrial products company’s stock after selling 487 shares during the quarter. Ituran Location and Control makes up about 0.4% of Analyst IMS Investment Management Services Ltd.’s investment portfolio, making the stock its 24th largest holding. Analyst IMS Investment Management Services Ltd.’s holdings in Ituran Location and Control were worth $11,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ITRN. Raymond James Financial Inc. purchased a new stake in Ituran Location and Control in the 4th quarter worth approximately $2,718,000. Seizert Capital Partners LLC lifted its holdings in Ituran Location and Control by 32.3% in the 4th quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company’s stock worth $4,928,000 after buying an additional 38,652 shares during the period. Four Tree Island Advisory LLC purchased a new stake in Ituran Location and Control in the 4th quarter worth approximately $920,000. HighTower Advisors LLC purchased a new stake in Ituran Location and Control in the 3rd quarter worth approximately $767,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Ituran Location and Control in the 4th quarter worth approximately $835,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Stock Down 0.9 %

ITRN opened at $36.83 on Friday. The stock has a market cap of $732.70 million, a PE ratio of 14.11 and a beta of 1.10. The business has a 50 day moving average of $35.70 and a 200-day moving average of $30.84. Ituran Location and Control Ltd. has a 52 week low of $24.12 and a 52 week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $81.81 million. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Thursday, March 20th. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.39. Ituran Location and Control’s dividend payout ratio (DPR) is 73.80%.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their target price on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

Ituran Location and Control Company Profile

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.