8,605 Shares in Ituran Location and Control Ltd. (NASDAQ:ITRN) Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,605 shares of the industrial products company's stock, valued at approximately $311,000.

A number of other institutional investors have also recently made changes to their positions in ITRN. Arrowstreet Capital Limited Partnership raised its holdings in Ituran Location and Control by 26.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock valued at $8,553,000 after acquiring an additional 56,956 shares during the period. Millennium Management LLC boosted its stake in Ituran Location and Control by 8.8% in the 4th 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 period. State of New Jersey Common Pension Fund D bought a new position in Ituran Location and Control in the 4th quarter worth about $207,000. D. E. Shaw & Co. Inc. grew its holdings in Ituran Location and Control by 61.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 12,248 shares of the industrial products company's stock valued at $382,000 after buying an additional 4,648 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Ituran Location and Control by 147.5% during the fourth quarter. Bank of America Corp DE now owns 8,707 shares of the industrial products company's stock valued at $271,000 after buying an additional 5,189 shares during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on ITRN. Wall Street Zen cut shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Barclays boosted their price target on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th.

Ituran Location and Control Stock Performance

Ituran Location and Control stock traded up $0.56 during mid-day trading on Tuesday, hitting $36.61. 58,918 shares of the company traded hands, compared to its average volume of 105,677. Ituran Location and Control Ltd. has a one year low of $24.12 and a one year high of $45.43. The stock has a market cap of $728.17 million, a price-to-earnings ratio of 13.17 and a beta of 0.82. The stock has a fifty day moving average price of $36.20 and a 200-day moving average price of $35.14.

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

Ituran Location and Control Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Wednesday, June 18th. Ituran Location and Control's dividend payout ratio (DPR) is presently 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.