Ituran Location and Control Ltd. $ITRN Position Increased by Y.D. More Investments Ltd

Y.D. More Investments Ltd grew its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 891,274 shares of the industrial products company’s stock after buying an additional 33,000 shares during the quarter. Ituran Location and Control makes up approximately 1.7% of Y.D. More Investments Ltd’s portfolio, making the stock its 13th largest position. Y.D. More Investments Ltd’s holdings in Ituran Location and Control were worth $43,681,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. J.M. Arbour LLC acquired a new position in Ituran Location and Control during the fourth quarter valued at $881,000. CSM Advisors LLC boosted its position in Ituran Location and Control by 30.2% during 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 during the period. Y Intercept Hong Kong Ltd acquired a new stake in Ituran Location and Control during the 1st quarter worth about $1,451,000. Total Wealth Planning & Management Inc. purchased a new position in Ituran Location and Control during the 4th quarter valued at about $689,000. Finally, Rice Hall James & Associates LLC grew its stake in Ituran Location and Control by 7.0% during the 4th quarter. Rice Hall James & Associates LLC now owns 528,164 shares of the industrial products company’s stock valued at $22,716,000 after acquiring an additional 34,550 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITRN has been the subject of a number of research reports. UBS Group reissued a “buy” rating on shares of Ituran Location and Control in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Zacks Research upgraded Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Ituran Location and Control Stock Performance

Ituran Location and Control stock opened at $56.00 on Monday. Ituran Location and Control Ltd. has a 1-year low of $32.71 and a 1-year high of $68.30. The firm’s fifty day simple moving average is $61.27 and its 200-day simple moving average is $52.89. The company has a market capitalization of $1.11 billion, a P/E ratio of 18.48 and a beta of 0.77.

Ituran Location and Control (NASDAQ:ITRN) last released 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 company had revenue of $102.67 million during 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%. On average, equities research analysts predict that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current year.

Ituran Location and Control Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 24th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. Ituran Location and Control’s payout ratio is currently 66.01%.

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.