Total Wealth Planning & Management Inc. Invests $689,000 in Ituran Location and Control Ltd. $ITRN

Total Wealth Planning & Management Inc. bought a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 16,022 shares of the industrial products company’s stock, valued at approximately $689,000.

Other hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its position in shares of Ituran Location and Control by 4.9% in the 4th quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company’s stock worth $37,236,000 after acquiring an additional 39,718 shares in the last quarter. J.M. Arbour LLC acquired a new position in shares of Ituran Location and Control in the 4th quarter worth approximately $881,000. CSM Advisors LLC grew its position in shares of Ituran Location and Control by 30.2% in the 3rd quarter. CSM Advisors LLC now owns 125,435 shares of the industrial products company’s stock worth $4,480,000 after acquiring an additional 29,090 shares in the last quarter. State of Wyoming acquired a new position in shares of Ituran Location and Control in the 3rd quarter worth approximately $404,000. Finally, GW&K Investment Management LLC acquired a new position in shares of Ituran Location and Control in the 3rd quarter worth approximately $1,911,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Trading Up 0.3%

Shares of NASDAQ ITRN opened at $65.26 on Friday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 21.54 and a beta of 0.77. Ituran Location and Control Ltd. has a 12-month low of $32.71 and a 12-month high of $68.30. The stock’s 50 day simple moving average is $56.96 and its 200 day simple moving average is $49.07.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. The business had revenue of $102.67 million for the quarter, compared to the consensus estimate of $95.32 million. Ituran Location and Control had a return on equity of 27.70% and a net margin of 16.03%. As a group, equities analysts forecast that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current fiscal year.

Ituran Location and Control Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.00 annualized dividend and a yield of 3.1%. Ituran Location and Control’s payout ratio is presently 198.02%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Maxim Group assumed coverage on Ituran Location and Control in a report on Thursday, March 12th. They issued a “buy” rating and a $70.00 price target on the stock. Barclays raised their price target on Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Wall Street Zen raised Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Loop Capital set a $57.00 price target on Ituran Location and Control in a report on Monday, March 9th. Finally, UBS Group reissued a “buy” rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

About Ituran Location and Control

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.