First Trust Advisors LP Has $4.31 Million Holdings in Ituran Location and Control Ltd. $ITRN

Key Points

• First Trust Advisors reduced its Ituran Location and Control stake by 17.5% in the first quarter, selling 18,673 shares. It still held 87,916 shares valued at approximately $4.31 million, while institutional investors collectively owned 94.8% of the company.
• Analyst sentiment remains positive, with four Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $60.67.
• Ituran beat quarterly expectations, reporting earnings of $0.85 per share versus an $0.80 estimate and revenue of $102.67 million versus $95.32 million expected. The company also declared a quarterly dividend of $0.50, representing a 3.5% yield.

First Trust Advisors LP lessened its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,916 shares of the industrial products company's stock after selling 18,673 shares during the quarter. First Trust Advisors LP owned 0.44% of Ituran Location and Control worth $4,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Ituran Location and Control by 257.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company's stock worth $27,000 after purchasing an additional 453 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Ituran Location and Control by 50.1% in the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 219 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Ituran Location and Control in the 3rd quarter valued at $28,000. Jones Financial Companies Lllp boosted its holdings in Ituran Location and Control by 327.2% in the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company's stock worth $43,000 after purchasing an additional 939 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in Ituran Location and Control in the third quarter worth $53,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Ituran Location and Control from a "buy" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. UBS Group reiterated a "buy" rating on shares of Ituran Location and Control in a research note on Wednesday, May 27th. Finally, Zacks Research raised Ituran Location and Control to a "hold" rating in a report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.67.

Ituran Location and Control Stock Up 1.3%

Shares of ITRN stock opened at $56.58 on Wednesday. The company has a market capitalization of $1.13 billion, a P/E ratio of 18.67 and a beta of 0.79. Ituran Location and Control Ltd. has a 12-month low of $32.71 and a 12-month high of $68.30. The firm has a 50-day moving average price of $60.13 and a 200 day moving average price of $54.34.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.05. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. The firm had revenue of $102.67 million during the quarter, compared to analysts' expectations of $95.32 million. As a group, research analysts expect that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current year.

Ituran Location and Control Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, June 24th. Ituran Location and Control's dividend payout ratio is 66.01%.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.

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