D.A. Davidson & CO. Makes New $251,000 Investment in Ituran Location and Control Ltd. (NASDAQ:ITRN)

D.A. Davidson & CO. acquired a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,944 shares of the industrial products company's stock, valued at approximately $251,000.

Several other hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of 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 grew its holdings in shares of 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 grew its holdings in shares of 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. purchased a new position in shares of Ituran Location and Control during the fourth quarter worth about $2,718,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Ituran Location and Control during the fourth quarter worth about $2,329,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analyst Ratings Changes

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

Ituran Location and Control Stock Down 1.8%

NASDAQ ITRN opened at $39.35 on Friday. Ituran Location and Control Ltd. has a 52-week low of $24.82 and a 52-week high of $45.43. The business's 50-day moving average price is $37.42 and its 200 day moving average price is $35.87. The firm has a market cap of $782.67 million, a P/E ratio of 14.15 and a beta of 0.82.

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

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Wednesday, June 18th. Ituran Location and Control's dividend payout ratio 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.

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