15,000 Shares in Ituran Location and Control Ltd. $ITRN Purchased by Acuitas Investments LLC

Acuitas Investments LLC purchased a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,000 shares of the industrial products company’s stock, valued at approximately $581,000. Acuitas Investments LLC owned about 0.08% of Ituran Location and Control at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ITRN. ARK Investment Management LLC acquired a new position in Ituran Location and Control in the 1st quarter valued at about $2,131,000. Raymond James Financial Inc. boosted its holdings in 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 valued at $4,544,000 after purchasing an additional 38,429 shares during the last quarter. IFG Advisory LLC acquired a new position in Ituran Location and Control in the 1st quarter valued at about $1,335,000. Total Wealth Planning & Management Inc. acquired a new position in Ituran Location and Control in the 1st quarter valued at about $1,216,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Ituran Location and Control by 294.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 43,010 shares of the industrial products company’s stock valued at $1,555,000 after purchasing an additional 32,113 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Ituran Location and Control Stock Up 0.8%

Shares of ITRN opened at $37.49 on Friday. 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’s 50 day moving average price is $35.86 and its 200 day moving average price is $36.82. The company has a market cap of $745.68 million, a P/E ratio of 13.44 and a beta of 0.87.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Tuesday, August 19th. The industrial products company reported $0.67 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 firm had revenue of $86.79 million during the quarter, compared to analysts’ expectations of $89.17 million.

Ituran Location and Control Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, September 25th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. Ituran Location and Control’s dividend payout ratio is currently 71.68%.

Analysts Set New Price Targets

ITRN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Weiss Ratings reissued 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, Ituran Location and Control presently has a consensus rating of “Buy” and an average target price of $50.00.

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.