Boston Partners Has $255,000 Holdings in Ituran Location and Control Ltd. $ITRN

Key Points

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Boston Partners cut its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 51.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,065 shares of the industrial products company's stock after selling 7,629 shares during the period. Boston Partners' holdings in Ituran Location and Control were worth $255,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ITRN. Costello Asset Management INC acquired a new stake in shares of Ituran Location and Control in the first quarter worth approximately $40,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Ituran Location and Control in the first quarter worth approximately $54,000. Point72 Asset Management L.P. acquired a new stake in shares of Ituran Location and Control in the fourth quarter worth approximately $178,000. Balyasny Asset Management L.P. acquired a new stake in shares of Ituran Location and Control in the fourth quarter worth approximately $223,000. Finally, GeoWealth Management LLC lifted its position in Ituran Location and Control by 7,556.8% during the fourth quarter. GeoWealth Management LLC now owns 7,274 shares of the industrial products company's stock valued at $227,000 after buying an additional 7,179 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Ituran Location and Control from a "buy" rating to a "hold" rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Ituran Location and Control presently has a consensus rating of "Buy" and a consensus price target of $50.00.

Ituran Location and Control Stock Up 1.2%

Shares of ITRN traded up $0.43 during mid-day trading on Friday, reaching $37.12. 99,964 shares of the stock traded hands, compared to its average volume of 105,381. The firm has a market cap of $738.32 million, a price-to-earnings ratio of 13.30 and a beta of 0.89. The stock has a fifty day simple moving average of $38.95 and a 200 day simple moving average of $37.45. Ituran Location and Control Ltd. has a 12-month low of $25.86 and a 12-month high of $45.43.

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

Ituran Location and Control Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, September 25th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.00 annualized dividend and a dividend yield of 5.4%. Ituran Location and Control's 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.