Deutsche Bank AG Acquires 15,717 Shares of Itron, Inc. (NASDAQ:ITRI)

Deutsche Bank AG boosted its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 6.4% during the fourth quarter, according to its most recent disclosure 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 0.58% of Itron worth $28,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP grew its stake 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 worth $87,145,000 after purchasing an additional 66,637 shares during the period. Norges Bank bought a new stake in Itron during the fourth quarter worth $64,615,000. Northern Trust Corp increased its stake in Itron by 11.4% in 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 during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Itron by 8.1% in the fourth 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Itron by 85.7% during the fourth 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 during the period. Institutional investors own 96.19% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Guggenheim reaffirmed a "buy" rating and set a $133.00 price objective on shares of Itron in a report on Thursday, April 17th. Piper Sandler reduced their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Oppenheimer boosted their price target on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group raised their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $127.36.

Insider Activity at Itron

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

Itron Stock Down 1.3%

ITRI traded down $1.45 on Monday, hitting $113.37. The company had a trading volume of 22,916 shares, compared to its average volume of 570,046. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock has a fifty day simple moving average of $105.28 and a 200-day simple moving average of $107.94. The firm has a market capitalization of $5.17 billion, a P/E ratio of 23.24, a P/E/G ratio of 0.81 and a beta of 1.31. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last released 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. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same period last year, the firm earned $1.24 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

About Itron

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.