Total Wealth Planning & Management Inc. Acquires New Shares in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Total Wealth Planning & Management Inc. bought a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,631 shares of the industrial products company's stock, valued at approximately $1,216,000. Ituran Location and Control comprises about 1.2% of Total Wealth Planning & Management Inc.'s portfolio, making the stock its 15th biggest holding. Total Wealth Planning & Management Inc. owned about 0.17% of Ituran Location and Control at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ITRN. Point72 Asset Management L.P. purchased a new stake in shares of Ituran Location and Control in the 4th quarter valued at approximately $178,000. Atria Investments Inc purchased a new stake in Ituran Location and Control in the fourth quarter valued at approximately $209,000. Balyasny Asset Management L.P. acquired a new position in Ituran Location and Control during the fourth quarter worth $223,000. GeoWealth Management LLC boosted its position in shares of Ituran Location and Control by 7,556.8% during the fourth 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 during the period. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Ituran Location and Control during the fourth quarter worth $229,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Barclays increased 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.

Ituran Location and Control Stock Up 2.6%

Shares of ITRN stock opened at $37.65 on Friday. The firm has a 50 day moving average of $36.33 and a two-hundred day moving average of $35.16. The stock has a market capitalization of $748.86 million, a PE ratio of 13.54 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.

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 (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $88.47 million.

Ituran Location and Control Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Wednesday, June 18th. Ituran Location and Control's dividend payout ratio is presently 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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