Ituran Location and Control Ltd. (NASDAQ:ITRN) is Inflection Point Investments LLP's 2nd Largest Position

Inflection Point Investments LLP lessened its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 38.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,997 shares of the industrial products company's stock after selling 124,300 shares during the period. Ituran Location and Control makes up about 15.4% of Inflection Point Investments LLP's portfolio, making the stock its 2nd largest holding. Inflection Point Investments LLP owned approximately 0.99% of Ituran Location and Control worth $7,087,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of Ituran Location and Control by 11.3% in the fourth quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company's stock valued at $121,000 after buying an additional 392 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Ituran Location and Control by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 15,161 shares of the industrial products company's stock worth $472,000 after purchasing an additional 532 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ituran Location and Control by 7.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,629 shares of the industrial products company's stock valued at $923,000 after buying an additional 2,075 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Ituran Location and Control by 10.5% during the fourth quarter. XTX Topco Ltd now owns 22,256 shares of the industrial products company's stock valued at $693,000 after purchasing an additional 2,106 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Ituran Location and Control by 7.8% in the 4th quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company's stock worth $968,000 after buying an additional 2,249 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays raised their price target on shares of Ituran Location and Control from $35.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Wall Street Zen lowered Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th.

Ituran Location and Control Stock Performance

NASDAQ ITRN traded down $0.12 during trading hours on Monday, hitting $36.11. The company had a trading volume of 71,431 shares, compared to its average volume of 105,389. The firm has a market capitalization of $718.37 million, a price-to-earnings ratio of 13.84 and a beta of 0.82. Ituran Location and Control Ltd. has a 52 week low of $24.12 and a 52 week high of $45.43. The firm has a 50 day simple moving average of $35.88 and a 200 day simple moving average of $34.93.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $86.46 million during the quarter, compared to the consensus estimate of $88.47 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Wednesday, June 18th. Ituran Location and Control's payout ratio is 71.94%.

Ituran Location and Control Company 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.