J.M. Arbour LLC Makes New Investment in Ituran Location and Control Ltd. $ITRN

J.M. Arbour LLC purchased a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,486 shares of the industrial products company’s stock, valued at approximately $881,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ibex Investors LLC increased its position in Ituran Location and Control by 2.3% during the third quarter. Ibex Investors LLC now owns 896,313 shares of the industrial products company’s stock worth $32,016,000 after acquiring an additional 20,000 shares during the period. Y.D. More Investments Ltd boosted its holdings in 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 valued at $37,236,000 after purchasing an additional 39,718 shares during the period. Aristides Capital LLC boosted its holdings in Ituran Location and Control by 21.9% in the 3rd quarter. Aristides Capital LLC now owns 280,395 shares of the industrial products company’s stock valued at $10,016,000 after purchasing an additional 50,421 shares during the period. Pekin Hardy Strauss Inc. grew its position in Ituran Location and Control by 29.1% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 230,308 shares of the industrial products company’s stock worth $8,227,000 after purchasing an additional 51,939 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in Ituran Location and Control by 32.1% in the 3rd quarter. Raymond James Financial Inc. now owns 159,200 shares of the industrial products company’s stock worth $5,687,000 after purchasing an additional 38,655 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $54.92 on Friday. The company has a 50-day moving average of $49.74 and a 200-day moving average of $43.80. Ituran Location and Control Ltd. has a 52 week low of $32.38 and a 52 week high of $55.33. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 18.87 and a beta of 0.66.

Ituran Location and Control (NASDAQ:ITRN) last posted its earnings results on Saturday, February 14th. The industrial products company reported $0.77 earnings per share for the quarter. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%. The business had revenue of $93.50 million for the quarter.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were paid a $1.50 dividend. The ex-dividend date was Monday, March 30th. This represents a $6.00 annualized dividend and a dividend yield of 10.9%. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.50. Ituran Location and Control’s dividend payout ratio is currently 206.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ITRN shares. Barclays upped their price objective on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Loop Capital set a $57.00 target price on Ituran Location and Control in a research report on Monday, March 9th. Wall Street Zen raised Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Sunday, April 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Finally, Maxim Group began coverage on Ituran Location and Control in a report on Thursday, March 12th. They set a “buy” rating and a $70.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ituran Location and Control currently has an average rating of “Buy” and an average price target of $60.67.

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.