Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Rating) announced a quarterly dividend on Tuesday, November 22nd, NASDAQ reports. Shareholders of record on Wednesday, December 21st will be paid a dividend of 0.105 per share by the industrial products company on Wednesday, January 4th. This represents a $0.42 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, December 20th.
Ituran Location and Control has decreased its dividend by an average of 1.8% annually over the last three years. Ituran Location and Control has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ituran Location and Control to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 24.5%.
Ituran Location and Control Price Performance
Shares of Ituran Location and Control stock traded up $0.30 during trading hours on Tuesday, reaching $23.10. The company's stock had a trading volume of 72,409 shares, compared to its average volume of 31,276. The firm has a 50 day moving average price of $23.17 and a 200-day moving average price of $24.08. Ituran Location and Control has a one year low of $19.73 and a one year high of $27.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.27. The stock has a market cap of $542.16 million, a P/E ratio of 13.65 and a beta of 1.12.
Ituran Location and Control (NASDAQ:ITRN - Get Rating) last posted its earnings results on Monday, August 29th. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). Ituran Location and Control had a return on equity of 25.90% and a net margin of 12.20%. The business had revenue of $73.39 million during the quarter, compared to the consensus estimate of $71.94 million. During the same quarter last year, the firm earned $0.44 earnings per share. On average, analysts predict that Ituran Location and Control will post 1.82 EPS for the current year.
Hedge Funds Weigh In On Ituran Location and Control
Several hedge funds have recently added to or reduced their stakes in ITRN. PNC Financial Services Group Inc. grew its holdings in Ituran Location and Control by 11,714.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,308 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 3,280 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Ituran Location and Control in the 1st quarter valued at about $205,000. Jane Street Group LLC purchased a new stake in Ituran Location and Control in the 2nd quarter valued at about $278,000. California State Teachers Retirement System boosted its position in Ituran Location and Control by 54.8% in the 3rd quarter. California State Teachers Retirement System now owns 20,139 shares of the industrial products company's stock valued at $470,000 after buying an additional 7,133 shares during the period. Finally, Invesco Ltd. boosted its position in Ituran Location and Control by 27.6% in the 1st quarter. Invesco Ltd. now owns 20,837 shares of the industrial products company's stock valued at $480,000 after buying an additional 4,502 shares during the period. 55.45% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on shares of Ituran Location and Control in a report on Wednesday, October 12th. They issued a "strong-buy" rating on the stock.
Ituran Location and Control Company Profile
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Ituran Location and Control Ltd., together with its subsidiaries, provides location-based telematics services and machine-to-machine telematics products. The company's Telematics services segment provides stolen vehicle recovery and tracking services, which 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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