Allianz Asset Management GmbH grew its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,441 shares of the industrial products company's stock after acquiring an additional 9,734 shares during the quarter. Allianz Asset Management GmbH owned about 0.23% of Ituran Location and Control worth $1,679,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of ITRN. Thrivent Financial for Lutherans acquired a new stake in Ituran Location and Control in the fourth quarter worth about $229,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Ituran Location and Control in the 4th quarter worth approximately $733,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ituran Location and Control by 26.2% in the fourth 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 in the last quarter. Alliancebernstein L.P. acquired a new position in shares of Ituran Location and Control during the fourth quarter valued at approximately $2,329,000. Finally, Envestnet Asset Management Inc. raised its holdings in Ituran Location and Control by 38.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,897 shares of the industrial products company's stock worth $339,000 after purchasing an additional 3,053 shares in the last quarter. Institutional investors own 94.80% of the company's stock.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th.
Read Our Latest Research Report on ITRN
Ituran Location and Control Trading Down 2.0%
Shares of NASDAQ ITRN traded down $0.79 during midday trading on Friday, reaching $38.71. The company's stock had a trading volume of 63,690 shares, compared to its average volume of 134,739. Ituran Location and Control Ltd. has a one year low of $25.09 and a one year high of $45.43. The company has a market cap of $769.94 million, a price-to-earnings ratio of 13.92 and a beta of 0.82. The company has a 50 day moving average price of $38.19 and a 200 day moving average price of $36.67.
Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $86.46 million for the quarter, compared to analysts' expectations of $88.47 million. Ituran Location and Control had a return on equity of 29.19% and a net margin of 16.35%.
Ituran Location and Control Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.2%. The ex-dividend date was Wednesday, June 18th. Ituran Location and Control's payout ratio is presently 71.94%.
About Ituran Location and Control
(
Free Report)
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.
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