Nuveen Asset Management LLC Trims Stock Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Nuveen Asset Management LLC lowered its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 71.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,632 shares of the industrial products company's stock after selling 31,716 shares during the period. Nuveen Asset Management LLC owned 0.06% of Ituran Location and Control worth $393,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in Ituran Location and Control by 26.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock worth $8,553,000 after buying an additional 56,956 shares in the last quarter. Millennium Management LLC grew its stake in Ituran Location and Control by 8.8% in the 4th quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock worth $7,119,000 after buying an additional 18,563 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Ituran Location and Control in the 4th quarter worth approximately $207,000. Four Tree Island Advisory LLC purchased a new stake in shares of Ituran Location and Control in the 4th quarter valued at $920,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of 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 purchasing an additional 4,648 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITRN. Wall Street Zen cut shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Barclays upped 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.

Ituran Location and Control Stock Down 0.8%

Shares of ITRN opened at $37.74 on Friday. The stock has a market capitalization of $750.80 million, a P/E ratio of 14.46 and a beta of 0.80. The firm has a fifty day simple moving average of $35.58 and a two-hundred day simple moving average of $34.52. Ituran Location and Control Ltd. has a twelve month low of $24.12 and a twelve month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $86.46 million during the quarter, compared to analyst estimates 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a yield of 5.30%. 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.

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