Ituran Location and Control Ltd. (NASDAQ:ITRN) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its position in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 152.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,749 shares of the industrial products company's stock after purchasing an additional 25,208 shares during the quarter. Northern Trust Corp owned 0.21% of Ituran Location and Control worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State of Tennessee Department of Treasury boosted its stake in shares of Ituran Location and Control by 32.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 30,698 shares of the industrial products company's stock valued at $956,000 after purchasing an additional 7,555 shares during the period. GeoWealth Management LLC boosted its stake in shares of Ituran Location and Control by 7,556.8% in the fourth quarter. GeoWealth Management LLC now owns 7,274 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 7,179 shares during the period. Marshall Wace LLP boosted its stake in shares of Ituran Location and Control by 69.8% in the fourth quarter. Marshall Wace LLP now owns 19,614 shares of the industrial products company's stock valued at $611,000 after purchasing an additional 8,063 shares during the period. Walleye Capital LLC boosted its stake in shares of Ituran Location and Control by 63.1% in the fourth quarter. Walleye Capital LLC now owns 44,839 shares of the industrial products company's stock valued at $1,397,000 after purchasing an additional 17,341 shares during the period. Finally, XTX Topco Ltd boosted its stake in shares of Ituran Location and Control by 10.5% in 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 during the period. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITRN has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Wall Street Zen downgraded shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research note on Friday.

Ituran Location and Control Trading Up 2.5%

NASDAQ ITRN traded up $0.94 during trading hours on Friday, reaching $38.20. 99,775 shares of the company traded hands, compared to its average volume of 102,183. Ituran Location and Control Ltd. has a 12 month low of $24.12 and a 12 month high of $45.43. The stock has a market capitalization of $759.95 million, a PE ratio of 14.64 and a beta of 0.80. The company has a 50 day moving average of $35.42 and a two-hundred day moving average of $34.14.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $86.46 million for 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 announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.24%. Ituran Location and Control's dividend payout ratio (DPR) is 73.80%.

About Ituran Location and Control

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.