Phoenix Financial Ltd. Reduces Stock Position in Ituran Location and Control Ltd. $ITRN

Phoenix Financial Ltd. lowered its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 19.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,760 shares of the industrial products company’s stock after selling 49,261 shares during the period. Phoenix Financial Ltd.’s holdings in Ituran Location and Control were worth $8,111,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ibex Investors LLC boosted its position in Ituran Location and Control by 1.8% during the 1st quarter. Ibex Investors LLC now owns 876,313 shares of the industrial products company’s stock valued at $31,687,000 after buying an additional 15,267 shares during the period. Inflection Point Investments LLP boosted its position in Ituran Location and Control by 1.0% during the 2nd quarter. Inflection Point Investments LLP now owns 197,997 shares of the industrial products company’s stock valued at $7,591,000 after buying an additional 2,000 shares during the period. Raymond James Financial Inc. lifted its position in shares of Ituran Location and Control by 44.0% in the 1st quarter. Raymond James Financial Inc. now owns 125,677 shares of the industrial products company’s stock worth $4,544,000 after purchasing an additional 38,429 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of Ituran Location and Control by 1.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 76,000 shares of the industrial products company’s stock worth $2,748,000 after purchasing an additional 1,000 shares during the period. Finally, ARK Investment Management LLC purchased a new stake in shares of Ituran Location and Control in the 1st quarter worth about $2,131,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analyst Ratings Changes

ITRN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ituran Location and Control in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ituran Location and Control currently has a consensus rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Price Performance

Shares of NASDAQ ITRN opened at $37.05 on Tuesday. Ituran Location and Control Ltd. has a 1 year low of $26.46 and a 1 year high of $45.43. The stock has a market cap of $736.92 million, a P/E ratio of 13.28 and a beta of 0.87. The firm has a 50-day moving average of $36.14 and a 200 day moving average of $36.78.

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

Ituran Location and Control Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, September 25th. Ituran Location and Control’s dividend payout ratio (DPR) is 71.68%.

Ituran Location and Control 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.