River Road Asset Management LLC lessened its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 490,258 shares of the industrial products company's stock after selling 9,253 shares during the quarter. River Road Asset Management LLC owned approximately 2.46% of Ituran Location and Control worth $15,272,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in Ituran Location and Control during the 4th quarter worth about $117,000. Van ECK Associates Corp lifted its position in Ituran Location and Control by 11.3% during the fourth quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company's stock valued at $121,000 after buying an additional 392 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Ituran Location and Control during the 3rd quarter valued at $137,000. BNP Paribas Financial Markets boosted its position in shares of Ituran Location and Control by 214.2% in the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company's stock worth $160,000 after buying an additional 4,098 shares during the period. Finally, Barclays PLC boosted its holdings in Ituran Location and Control by 132.1% in the 3rd quarter. Barclays PLC now owns 7,731 shares of the industrial products company's stock worth $206,000 after acquiring an additional 4,400 shares during the period. Institutional investors and hedge funds own 94.80% of the company's stock.
Analyst Ratings Changes
Separately, Barclays raised 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.
View Our Latest Research Report on Ituran Location and Control
Ituran Location and Control Stock Up 3.3 %
ITRN stock opened at $37.55 on Wednesday. The company has a market capitalization of $747.02 million, a PE ratio of 14.39 and a beta of 1.10. The stock's 50 day moving average is $35.48 and its two-hundred day moving average is $30.75. Ituran Location and Control Ltd. has a 52-week low of $24.12 and a 52-week high of $45.43.
Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $82.88 million for the quarter, compared to analysts' expectations of $81.81 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.
Ituran Location and Control Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.50 per share. This is a boost from Ituran Location and Control's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.00 annualized dividend and a dividend yield of 5.33%. Ituran Location and Control's dividend payout ratio (DPR) is presently 73.80%.
Ituran Location and Control Profile
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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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