Ituran Location and Control Ltd. Declares Quarterly Dividend of $0.50 (NASDAQ:ITRN)

Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report) declared a quarterly dividend on Thursday, May 29th, Wall Street Journal reports. Investors of record on Wednesday, June 18th will be given a dividend of 0.50 per share by the industrial products company on Wednesday, July 2nd. This represents a $2.00 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Wednesday, June 18th.

Ituran Location and Control has raised its dividend payment by an average of 20.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Ituran Location and Control has a payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Price Performance

ITRN traded up $1.09 on Monday, reaching $39.18. The company's stock had a trading volume of 156,651 shares, compared to its average volume of 102,674. Ituran Location and Control has a 1 year low of $24.12 and a 1 year high of $45.43. The business's 50 day moving average is $35.42 and its 200 day moving average is $34.30. The stock has a market cap of $779.45 million, a price-to-earnings ratio of 15.01 and a beta of 0.80.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its quarterly 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 business had revenue of $86.46 million during the quarter, compared to the consensus estimate of $88.47 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Analysts Set New Price Targets

Several brokerages have weighed in on ITRN. Wall Street Zen lowered shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Friday. Barclays lifted their price target on 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.

Institutional Investors Weigh In On Ituran Location and Control

An institutional investor recently bought a new position in Ituran Location and Control stock. Jane Street Group LLC bought a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,161 shares of the industrial products company's stock, valued at approximately $223,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

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.