Arrowstreet Capital Limited Partnership Increases Stock Holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 26.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 274,562 shares of the industrial products company's stock after purchasing an additional 56,956 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.38% of Ituran Location and Control worth $8,553,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ITRN. Raymond James Financial Inc. purchased a new stake in Ituran Location and Control during the 4th quarter valued at about $2,718,000. Seizert Capital Partners LLC grew its holdings in shares of Ituran Location and Control by 32.3% during the fourth quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company's stock valued at $4,928,000 after buying an additional 38,652 shares during the last quarter. Four Tree Island Advisory LLC purchased a new stake in shares of Ituran Location and Control during the fourth quarter valued at approximately $920,000. HighTower Advisors LLC bought a new stake in shares of Ituran Location and Control during the third quarter valued at approximately $767,000. Finally, Assenagon Asset Management S.A. purchased a new position in Ituran Location and Control in the 4th quarter worth approximately $835,000. 94.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Barclays increased their target price on Ituran Location and Control from $35.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th.

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Ituran Location and Control Price Performance

Shares of Ituran Location and Control stock traded down $0.14 during trading on Friday, hitting $32.86. 144,215 shares of the company's stock traded hands, compared to its average volume of 96,571. Ituran Location and Control Ltd. has a 1 year low of $24.12 and a 1 year high of $45.43. The business has a 50-day simple moving average of $36.96 and a 200-day simple moving average of $32.10. The stock has a market capitalization of $653.72 million, a P/E ratio of 12.59 and a beta of 0.90.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend was Thursday, March 20th. This is an increase from Ituran Location and Control's previous quarterly dividend of $0.39. Ituran Location and Control's payout ratio is 73.80%.

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.