Ituran Location and Control Ltd. (NASDAQ:ITRN) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 71.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,632 shares of the industrial products company's stock after selling 31,716 shares during the period. Nuveen Asset Management LLC owned about 0.06% of Ituran Location and Control worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Four Tree Island Advisory LLC bought a new stake in shares of Ituran Location and Control during the fourth quarter valued at approximately $920,000. Van ECK Associates Corp raised its position in Ituran Location and Control by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company's stock valued at $121,000 after purchasing an additional 392 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Ituran Location and Control in the 4th quarter worth $207,000. Atria Investments Inc bought a new position in shares of Ituran Location and Control during the 4th quarter worth $209,000. Finally, Seizert Capital Partners LLC increased its stake in shares of Ituran Location and Control by 32.3% during the fourth quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company's stock valued at $4,928,000 after buying an additional 38,652 shares during the period. 94.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on ITRN shares. Barclays upped their price target on shares of Ituran Location and Control from $35.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Wall Street Zen lowered Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th.

Ituran Location and Control Trading Down 1.7%

Shares of ITRN stock traded down $0.64 during trading hours on Monday, reaching $37.00. 146,322 shares of the company's stock were exchanged, compared to its average volume of 104,010. The company has a market cap of $736.08 million, a price-to-earnings ratio of 14.18 and a beta of 0.82. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43. The stock's 50 day moving average is $35.61 and its 200-day moving average is $34.69.

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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be given 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 yield of 5.41%. Ituran Location and Control's dividend payout ratio is currently 71.94%.

Ituran Location and Control Company 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.