Teacher Retirement System of Texas Makes New $262,000 Investment in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Teacher Retirement System of Texas purchased a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,257 shares of the industrial products company's stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its stake in Ituran Location and Control by 26.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock worth $8,553,000 after purchasing an additional 56,956 shares during the last quarter. Aristides Capital LLC lifted its stake in Ituran Location and Control by 26.5% during the fourth quarter. Aristides Capital LLC now owns 233,190 shares of the industrial products company's stock worth $7,264,000 after purchasing an additional 48,850 shares during the last quarter. Millennium Management LLC lifted its stake in Ituran Location and Control by 8.8% during the fourth quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock worth $7,119,000 after purchasing an additional 18,563 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Ituran Location and Control during the fourth quarter worth $2,718,000. Finally, Alliancebernstein L.P. bought a new stake in Ituran Location and Control during the fourth quarter worth $2,329,000. 94.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th.

Ituran Location and Control Stock Up 3.2%

Shares of NASDAQ ITRN traded up $1.26 on Wednesday, reaching $40.17. 64,733 shares of the company's stock traded hands, compared to its average volume of 107,949. Ituran Location and Control Ltd. has a 12 month low of $25.09 and a 12 month high of $45.43. The business's 50 day simple moving average is $37.87 and its two-hundred day simple moving average is $36.31. The company has a market cap of $799.14 million, a price-to-earnings ratio of 14.45 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $86.46 million for the quarter, compared to analysts' expectations of $88.47 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%.

Ituran Location and Control Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were paid a $0.50 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.98%. Ituran Location and Control's payout ratio is currently 71.94%.

Ituran Location and Control Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.