Inflection Point Investments LLP Acquires 2,000 Shares of Ituran Location and Control Ltd. $ITRN

Inflection Point Investments LLP lifted its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 197,997 shares of the industrial products company’s stock after acquiring an additional 2,000 shares during the period. Ituran Location and Control accounts for about 14.4% of Inflection Point Investments LLP’s portfolio, making the stock its largest position. Inflection Point Investments LLP’s holdings in Ituran Location and Control were worth $7,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Costello Asset Management INC acquired a new position in shares of Ituran Location and Control during the 1st quarter valued at $40,000. Jones Financial Companies Lllp raised its holdings in shares of Ituran Location and Control by 327.2% during the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 939 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Ituran Location and Control by 148.9% during the second quarter. AdvisorNet Financial Inc now owns 1,120 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 670 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Ituran Location and Control during the first quarter valued at about $54,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Ituran Location and Control during the second quarter valued at about $113,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ITRN shares. Wall Street Zen raised Ituran Location and Control from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ituran Location and Control in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Price Performance

ITRN opened at $36.47 on Tuesday. Ituran Location and Control Ltd. has a fifty-two week low of $26.46 and a fifty-two week high of $45.43. The firm has a market capitalization of $703.24 million, a PE ratio of 13.07 and a beta of 0.87. The company’s 50-day moving average is $36.55 and its 200 day moving average is $36.71.

Ituran Location and Control (NASDAQ:ITRN) last posted its earnings results on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). The business had revenue of $86.79 million during the quarter, compared to analyst estimates of $89.17 million. Ituran Location and Control had a return on equity of 28.24% and a net margin of 16.35%.

Ituran Location and Control Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Thursday, September 25th. Ituran Location and Control’s dividend payout ratio is presently 71.68%.

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.