Strategic Global Advisors LLC boosted its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN – Free Report) by 106.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 132,325 shares of the industrial products company’s stock after buying an additional 68,222 shares during the quarter. Strategic Global Advisors LLC’s holdings in Ituran Location and Control were worth $5,691,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd increased its position in Ituran Location and Control by 4.9% during the 4th quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company’s stock valued at $37,236,000 after buying an additional 39,718 shares in the last quarter. GW&K Investment Management LLC increased its position in Ituran Location and Control by 909.3% during the 4th quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock valued at $23,218,000 after buying an additional 486,331 shares in the last quarter. Aristides Capital LLC increased its position in Ituran Location and Control by 1.1% during the 4th quarter. Aristides Capital LLC now owns 283,405 shares of the industrial products company’s stock valued at $12,189,000 after buying an additional 3,010 shares in the last quarter. Pekin Hardy Strauss Inc. increased its position in Ituran Location and Control by 29.1% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 230,308 shares of the industrial products company’s stock valued at $8,227,000 after buying an additional 51,939 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Ituran Location and Control by 32.1% during the 3rd quarter. Raymond James Financial Inc. now owns 159,200 shares of the industrial products company’s stock valued at $5,687,000 after buying an additional 38,655 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.
Ituran Location and Control Stock Performance
Shares of ITRN stock opened at $66.32 on Monday. The stock’s 50-day simple moving average is $58.66 and its 200-day simple moving average is $50.21. The firm has a market capitalization of $1.32 billion, a PE ratio of 21.89 and a beta of 0.77. Ituran Location and Control Ltd. has a fifty-two week low of $32.71 and a fifty-two week high of $68.30.
Ituran Location and Control Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 24th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. Ituran Location and Control’s dividend payout ratio is presently 198.02%.
Analysts Set New Price Targets
Several brokerages recently issued reports on ITRN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Loop Capital set a $57.00 price objective on Ituran Location and Control in a report on Monday, March 9th. Zacks Research raised Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. UBS Group reissued a “buy” rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Finally, Maxim Group began coverage on Ituran Location and Control in a report on Thursday, March 12th. They issued a “buy” rating and a $70.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.67.
Get Our Latest Stock Analysis on ITRN
Ituran Location and Control Profile
Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.
Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.
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