Invst LLC Invests $398,000 in Ituran Location and Control Ltd. $ITRN

Key Points

• Invst LLC made a new investment of $398,000 in Ituran Location and Control Ltd., acquiring 11,005 shares during the first quarter.
• The company recently declared a quarterly dividend of $0.50 per share, representing an annual yield of 5.7%.
• After missing quarterly earnings estimates, analysts downgraded Ituran Location and Control's rating from "buy" to "hold."

Invst LLC acquired a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,005 shares of the industrial products company's stock, valued at approximately $398,000. Invst LLC owned approximately 0.06% of Ituran Location and Control as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jane Street Group LLC bought a new position in Ituran Location and Control in the first quarter valued at $223,000. Jones Financial Companies Lllp increased its stake 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 valued at $43,000 after acquiring an additional 939 shares during the last quarter. Magnetar Financial LLC increased its stake in Ituran Location and Control by 6.0% in the first quarter. Magnetar Financial LLC now owns 13,055 shares of the industrial products company's stock valued at $472,000 after acquiring an additional 742 shares during the last quarter. Algert Global LLC increased its stake in Ituran Location and Control by 16.9% in the first quarter. Algert Global LLC now owns 9,128 shares of the industrial products company's stock valued at $330,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Ituran Location and Control by 44.0% during the first quarter. Raymond James Financial Inc. now owns 125,677 shares of the industrial products company's stock valued at $4,544,000 after buying an additional 38,429 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Ituran Location and Control from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $50.00.

Ituran Location and Control Trading Up 3.5%

Shares of ITRN traded up $1.22 during trading hours on Monday, reaching $36.19. 173,739 shares of the stock traded hands, compared to its average volume of 166,852. Ituran Location and Control Ltd. has a 52-week low of $25.86 and a 52-week high of $45.43. The company's 50-day moving average price is $38.10 and its two-hundred day moving average price is $37.00. The company has a market cap of $719.82 million, a P/E ratio of 12.97 and a beta of 0.87.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The company had revenue of $86.79 million for the quarter, compared to the consensus estimate of $89.17 million.

Ituran Location and Control Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Thursday, September 25th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Thursday, September 25th. Ituran Location and Control's dividend payout ratio is 71.68%.

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.