Total Wealth Planning & Management Inc. Makes New $1.22 Million Investment in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Total Wealth Planning & Management Inc. purchased a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 holdings, making the stock its 15th biggest holding. Total Wealth Planning & Management Inc. owned 0.17% of Ituran Location and Control at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in Ituran Location and Control in the fourth quarter valued at approximately $178,000. Atria Investments Inc purchased a new position in shares of Ituran Location and Control during the 4th quarter valued at approximately $209,000. Balyasny Asset Management L.P. acquired a new stake in Ituran Location and Control in the 4th quarter valued at $223,000. GeoWealth Management LLC increased its holdings in 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 acquiring an additional 7,179 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in Ituran Location and Control in the 4th quarter worth $229,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Price Performance

ITRN stock traded up $0.98 during trading on Monday, hitting $38.73. The stock had a trading volume of 88,360 shares, compared to its average volume of 106,483. Ituran Location and Control Ltd. has a twelve month low of $24.12 and a twelve month high of $45.43. The company's 50-day moving average price is $36.62 and its two-hundred day moving average price is $35.37. The stock has a market capitalization of $770.34 million, a P/E ratio of 13.93 and a beta of 0.82.

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, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $86.46 million for 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 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 issued a $0.50 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a yield of 5.16%. Ituran Location and Control's payout ratio is currently 71.94%.

Wall Street Analysts Forecast Growth

Separately, 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 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.