Deutsche Bank AG Increases Stake in Itron, Inc. (NASDAQ:ITRI)

Deutsche Bank AG raised its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,360 shares of the scientific and technical instruments company's stock after acquiring an additional 15,717 shares during the quarter. Deutsche Bank AG owned approximately 0.58% of Itron worth $28,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP lifted its position in Itron by 9.1% during the fourth quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock valued at $87,145,000 after purchasing an additional 66,637 shares in the last quarter. Norges Bank purchased a new position in shares of Itron during the 4th quarter valued at about $64,615,000. Northern Trust Corp lifted its position in shares of Itron by 11.4% during the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock valued at $62,137,000 after buying an additional 58,546 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Itron by 8.1% during the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company's stock valued at $50,467,000 after acquiring an additional 34,842 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Itron by 85.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock worth $46,199,000 after acquiring an additional 196,396 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Analysts Set New Price Targets

ITRI has been the topic of several analyst reports. Oppenheimer lifted their price target on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $133.00 target price on shares of Itron in a research note on Thursday, April 17th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Piper Sandler lowered their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Finally, Canaccord Genuity Group upped their price objective on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.36.

Insider Activity

In other Itron news, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the transaction, the senior vice president now directly owns 20,326 shares of the company's stock, valued at $1,888,285.40. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the transaction, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. This trade represents a 3.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,187 shares of company stock worth $945,620. 1.45% of the stock is currently owned by corporate insiders.

Itron Stock Performance

NASDAQ:ITRI opened at $115.10 on Wednesday. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 0.81 and a beta of 1.31. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $124.90. The stock's 50 day simple moving average is $104.68 and its two-hundred day simple moving average is $107.76. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.22. The company had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 earnings per share. As a group, equities analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Itron Company Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.

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