Pekin Hardy Strauss Inc. decreased its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,625 shares of the industrial products company's stock after selling 61,059 shares during the period. Pekin Hardy Strauss Inc. owned about 0.83% of Ituran Location and Control worth $5,989,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 valued at $8,553,000 after purchasing an additional 56,956 shares in the last quarter. Millennium Management LLC boosted its position in shares of Ituran Location and Control by 8.8% during the 4th quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock worth $7,119,000 after acquiring an additional 18,563 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings 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 acquiring an additional 4,648 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Ituran Location and Control by 147.5% in the 4th quarter. Bank of America Corp DE now owns 8,707 shares of the industrial products company's stock valued at $271,000 after acquiring an additional 5,189 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Ituran Location and Control in the 1st quarter valued at about $637,000. Institutional investors and hedge funds own 94.80% of the company's stock.
Ituran Location and Control Stock Up 1.3%
ITRN traded up $0.49 on Tuesday, reaching $39.32. The company had a trading volume of 74,313 shares, compared to its average volume of 107,859. Ituran Location and Control Ltd. has a 1 year low of $24.17 and a 1 year high of $45.43. The stock has a market capitalization of $782.07 million, a PE ratio of 14.14 and a beta of 0.82. The stock has a 50-day moving average price of $37.18 and a 200-day moving average price of $35.71.
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, topping analysts' consensus estimates of $0.70 by $0.03. Ituran Location and Control had a return on equity of 29.19% and a net margin of 16.35%. The firm had revenue of $86.46 million for the quarter, compared to the consensus estimate of $88.47 million.
Ituran Location and Control Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $2.00 annualized dividend and a yield of 5.09%. Ituran Location and Control's dividend payout ratio (DPR) is 71.94%.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Saturday.
View Our Latest Research Report on Ituran Location and Control
About Ituran Location and Control
(
Free Report)
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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