Trek Financial LLC Buys New Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Trek Financial LLC bought a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,992 shares of the industrial products company's stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITRN. Atria Investments Inc acquired a new stake in Ituran Location and Control in the 4th quarter valued at approximately $209,000. Raymond James Financial Inc. acquired a new position in shares of Ituran Location and Control during the 4th quarter worth approximately $2,718,000. HighTower Advisors LLC increased its position in shares of Ituran Location and Control by 7.8% during the 4th quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company's stock worth $968,000 after purchasing an additional 2,249 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ituran Location and Control by 11.7% during the 4th 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 during the last quarter. Finally, Delphi Management Inc. MA increased its position in shares of Ituran Location and Control by 12.3% during the 4th quarter. Delphi Management Inc. MA now owns 55,076 shares of the industrial products company's stock worth $1,716,000 after purchasing an additional 6,015 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Ituran Location and Control Stock Down 0.1%

NASDAQ:ITRN opened at $39.30 on Thursday. The firm has a market capitalization of $781.68 million, a price-to-earnings ratio of 14.14 and a beta of 0.82. Ituran Location and Control Ltd. has a twelve month low of $24.28 and a twelve month high of $45.43. The stock's 50 day moving average price is $37.25 and its two-hundred day moving average price is $35.74.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $88.47 million.

Ituran Location and Control Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.09%. Ituran Location and Control's dividend payout ratio is currently 71.94%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th.

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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