Inflection Point Investments LLP reduced its position in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 38.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,997 shares of the industrial products company's stock after selling 124,300 shares during the quarter. Ituran Location and Control accounts for approximately 15.4% of Inflection Point Investments LLP's investment 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 quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its position in shares of Ituran Location and Control by 26.2% in the 4th 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 period. Aristides Capital LLC raised its stake in Ituran Location and Control by 26.5% in the fourth quarter. Aristides Capital LLC now owns 233,190 shares of the industrial products company's stock worth $7,264,000 after buying an additional 48,850 shares in the last quarter. Millennium Management LLC raised its stake in Ituran Location and Control by 8.8% in the fourth quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock worth $7,119,000 after buying an additional 18,563 shares in the last quarter. Seizert Capital Partners LLC raised its stake in Ituran Location and Control by 32.3% in the fourth quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company's stock worth $4,928,000 after buying an additional 38,652 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Ituran Location and Control in the fourth quarter worth approximately $2,718,000. 94.80% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Wall Street Zen downgraded Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Barclays raised their price objective on 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.
View Our Latest Stock Report on Ituran Location and Control
Ituran Location and Control Stock Performance
ITRN traded up $0.23 during trading on Friday, hitting $36.23. The stock had a trading volume of 87,111 shares, compared to its average volume of 105,199. The company has a market capitalization of $720.76 million, a PE ratio of 13.88 and a beta of 0.82. Ituran Location and Control Ltd. has a twelve month low of $24.12 and a twelve month high of $45.43. The stock has a 50 day simple moving average of $35.79 and a two-hundred day simple moving average of $34.81.
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 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%. The company had revenue of $86.46 million during the quarter, compared to analysts' expectations of $88.47 million.
Ituran Location and Control Announces Dividend
The business 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. The ex-dividend date is Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a yield of 5.52%. Ituran Location and Control's payout ratio is 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.
See Also
Before you consider Ituran Location and Control, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ituran Location and Control wasn't on the list.
While Ituran Location and Control currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
