Wells Fargo & Company MN lessened its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 88.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,120 shares of the industrial products company's stock after selling 15,914 shares during the period. Wells Fargo & Company MN's holdings in Ituran Location and Control were worth $66,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its stake in shares of Ituran Location and Control by 26.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock valued at $8,553,000 after acquiring an additional 56,956 shares during the period. Seizert Capital Partners LLC raised its stake in shares of Ituran Location and Control by 32.3% in the 4th quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company's stock valued at $4,928,000 after acquiring an additional 38,652 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Ituran Location and Control in the 4th quarter valued at $2,718,000. Alliancebernstein L.P. purchased a new stake in Ituran Location and Control during the 4th quarter worth $2,329,000. Finally, Delphi Management Inc. MA increased its stake in 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 buying an additional 6,015 shares during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Barclays lifted their price target on shares of 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.
View Our Latest Research Report on Ituran Location and Control
Ituran Location and Control Price Performance
Ituran Location and Control stock traded up $0.01 during midday trading on Monday, hitting $37.83. 60,958 shares of the stock were exchanged, compared to its average volume of 99,930. Ituran Location and Control Ltd. has a 1 year low of $24.12 and a 1 year high of $45.43. The firm has a market cap of $752.59 million, a P/E ratio of 14.49 and a beta of 0.80. The company has a 50 day moving average price of $35.40 and a two-hundred day moving average price of $33.67.
Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The firm had revenue of $82.88 million for the quarter, compared to the consensus estimate of $81.81 million.
Ituran Location and Control Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a dividend of $0.50 per share. This is a positive change from Ituran Location and Control's previous quarterly dividend of $0.39. This represents a $2.00 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Thursday, March 20th. Ituran Location and Control's dividend payout ratio (DPR) is currently 73.80%.
About Ituran Location and Control
(
Free Report)
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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