Ituran Location and Control Ltd. (NASDAQ:ITRN) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 26.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atria Investments Inc purchased a new position in Ituran Location and Control in the fourth quarter valued at $209,000. Raymond James Financial Inc. purchased a new position in Ituran Location and Control in the fourth quarter valued at $2,718,000. Inceptionr LLC purchased a new position in Ituran Location and Control in the fourth quarter valued at $230,000. HighTower Advisors LLC increased its holdings in Ituran Location and Control by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company's stock valued at $968,000 after buying an additional 2,249 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ituran Location and Control by 11.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,854 shares of the industrial products company's stock worth $1,553,000 after purchasing an additional 5,220 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Ituran Location and Control Stock Performance

Shares of ITRN stock traded down $0.02 on Wednesday, reaching $39.30. 54,847 shares of the company were exchanged, compared to its average volume of 107,938. The company has a market cap of $781.68 million, a price-to-earnings ratio of 14.14 and a beta of 0.82. The business has a 50-day moving average price of $37.25 and a 200 day moving average price of $35.74. Ituran Location and Control Ltd. has a 1 year low of $24.28 and a 1 year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. The business had revenue of $86.46 million during the quarter, compared to analysts' expectations of $88.47 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th were paid a dividend of $0.50 per share. 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 is presently 71.94%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research note on Saturday.

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.