Spirepoint Private Client LLC Buys New Shares in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Spirepoint Private Client LLC purchased a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,209 shares of the industrial products company's stock, valued at approximately $297,000.

Several other hedge funds have also recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in shares of Ituran Location and Control during the fourth quarter worth about $178,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Ituran Location and Control during the fourth quarter worth approximately $207,000. Atria Investments Inc bought a new position in shares of Ituran Location and Control in the fourth quarter worth $209,000. Balyasny Asset Management L.P. acquired a new position in shares of Ituran Location and Control during the fourth quarter valued at approximately $223,000. Finally, GeoWealth Management LLC raised its stake in shares of Ituran Location and Control by 7,556.8% in the 4th quarter. GeoWealth Management LLC now owns 7,274 shares of the industrial products company's stock worth $227,000 after buying an additional 7,179 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Ituran Location and Control Stock Performance

Shares of NASDAQ:ITRN opened at $36.61 on Wednesday. The company has a market capitalization of $728.17 million, a PE ratio of 13.17 and a beta of 0.82. Ituran Location and Control Ltd. has a 52 week low of $24.12 and a 52 week high of $45.43. The company's fifty day moving average is $36.27 and its 200-day moving average is $35.15.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. The company had revenue of $86.46 million during the quarter, compared to the consensus estimate of $88.47 million. Ituran Location and Control had a return on equity of 29.19% and a net margin of 16.35%.

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.46%. The ex-dividend date is Wednesday, June 18th. Ituran Location and Control's payout ratio is 71.94%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ITRN shares. Barclays raised their price objective on shares of Ituran Location and Control from $35.00 to $50.00 and gave the stock an "overweight" rating in a research note 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 report on Friday, May 30th.

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.

Want to see what other hedge funds are holding ITRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.