Atria Investments Inc Buys Shares of 6,712 Ituran Location and Control Ltd. (NASDAQ:ITRN)

Atria Investments Inc acquired a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,712 shares of the industrial products company's stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Four Tree Island Advisory LLC purchased a new stake in shares of Ituran Location and Control in the fourth quarter worth approximately $920,000. HighTower Advisors LLC purchased a new stake in shares of Ituran Location and Control in the third quarter worth approximately $767,000. Assenagon Asset Management S.A. purchased a new stake in shares of Ituran Location and Control in the fourth quarter worth approximately $835,000. Segall Bryant & Hamill LLC raised its holdings in shares of Ituran Location and Control by 43.6% in the third quarter. Segall Bryant & Hamill LLC now owns 84,600 shares of the industrial products company's stock worth $2,245,000 after buying an additional 25,700 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ituran Location and Control by 77.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,634 shares of the industrial products company's stock worth $1,185,000 after buying an additional 19,514 shares during the period. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Up 0.2 %

NASDAQ:ITRN traded up $0.06 during midday trading on Friday, hitting $36.98. The stock had a trading volume of 211,123 shares, compared to its average volume of 91,541. Ituran Location and Control Ltd. has a one year low of $24.12 and a one year high of $45.43. The company has a market capitalization of $735.68 million, a price-to-earnings ratio of 14.17 and a beta of 1.10. The stock has a 50-day moving average of $36.38 and a 200 day moving average of $31.20.

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Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 28.31% and a net margin of 15.65%. The company had revenue of $82.88 million for the quarter, compared to analysts' expectations of $81.81 million.

Ituran Location and Control Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.00 annualized dividend and a yield of 5.41%. This is a boost from Ituran Location and Control's previous quarterly dividend of $0.39. Ituran Location and Control's dividend payout ratio is 73.80%.

Wall Street Analysts Forecast Growth

Separately, Barclays increased their price target on Ituran Location and Control from $35.00 to $50.00 and gave the stock an "overweight" rating in a 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.