Millennium Management LLC Purchases 18,563 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Millennium Management LLC lifted its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,537 shares of the industrial products company's stock after acquiring an additional 18,563 shares during the period. Millennium Management LLC owned approximately 1.15% of Ituran Location and Control worth $7,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Ituran Location and Control by 26.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock worth $8,553,000 after acquiring an additional 56,956 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Ituran Location and Control in the 4th quarter valued at $207,000. Four Tree Island Advisory LLC bought a new stake in Ituran Location and Control in the 4th quarter valued at $920,000. D. E. Shaw & Co. Inc. increased its holdings in Ituran Location and Control by 61.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 12,248 shares of the industrial products company's stock valued at $382,000 after buying an additional 4,648 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Ituran Location and Control in the 4th quarter valued at $2,718,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Ituran Location and Control Trading Up 2.5%

Shares of Ituran Location and Control stock traded up $0.94 during trading on Friday, reaching $38.20. The company's stock had a trading volume of 99,775 shares, compared to its average volume of 102,458. The stock has a 50-day moving average price of $35.42 and a two-hundred day moving average price of $34.26. Ituran Location and Control Ltd. has a one year low of $24.12 and a one year high of $45.43. The stock has a market capitalization of $759.95 million, a P/E ratio of 14.64 and a beta of 0.80.

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 earnings per share (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 business had revenue of $86.46 million during the quarter, compared to analysts' expectations of $88.47 million.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th will be issued a $0.50 dividend. 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 is 73.80%.

Analysts Set New Price Targets

ITRN has been the topic of several analyst reports. Barclays boosted their price target on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a report 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 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.