Two Sigma Investments LP Lowers Holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Two Sigma Investments LP trimmed its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 39.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,426 shares of the industrial products company's stock after selling 26,047 shares during the period. Two Sigma Investments LP owned 0.20% of Ituran Location and Control worth $1,259,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Ituran Location and Control by 11.3% in the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company's stock worth $121,000 after acquiring an additional 392 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Ituran Location and Control in the 4th quarter worth $178,000. State of New Jersey Common Pension Fund D bought a new position in shares of Ituran Location and Control in the 4th quarter worth $207,000. Atria Investments Inc bought a new position in shares of Ituran Location and Control in the 4th quarter worth $209,000. Finally, Balyasny Asset Management L.P. acquired a new position in Ituran Location and Control during the 4th quarter valued at about $223,000. 94.80% of the stock is owned by institutional investors.

Ituran Location and Control Stock Performance

NASDAQ:ITRN traded down $0.10 during mid-day trading on Friday, hitting $37.64. 77,505 shares of the company's stock traded hands, compared to its average volume of 103,832. The company has a fifty day moving average of $35.61 and a 200 day moving average of $34.69. Ituran Location and Control Ltd. has a twelve month low of $24.12 and a twelve month high of $45.43. The company has a market capitalization of $748.81 million, a P/E ratio of 14.42 and a beta of 0.82.

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, 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 28.31% and a net margin of 15.65%.

Ituran Location and Control Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $2.00 annualized dividend and a yield of 5.31%. Ituran Location and Control's payout ratio is presently 71.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITRN. Wall Street Zen lowered Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Barclays upped their target price on Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th.

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.