Phoenix Financial Ltd. Has $22.40 Million Stock Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Phoenix Financial Ltd. lowered its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 712,246 shares of the industrial products company's stock after selling 33,115 shares during the quarter. Phoenix Financial Ltd. owned 3.58% of Ituran Location and Control worth $22,395,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Van ECK Associates Corp raised its holdings in Ituran Location and Control by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company's stock worth $121,000 after buying an additional 392 shares during the period. CWA Asset Management Group LLC increased its position in shares of Ituran Location and Control by 20.3% during the fourth quarter. CWA Asset Management Group LLC now owns 12,708 shares of the industrial products company's stock worth $396,000 after acquiring an additional 2,144 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Ituran Location and Control by 7.8% during the fourth quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company's stock worth $968,000 after acquiring an additional 2,249 shares during the period. DGS Capital Management LLC lifted its position in Ituran Location and Control by 14.8% in the 3rd quarter. DGS Capital Management LLC now owns 19,030 shares of the industrial products company's stock valued at $505,000 after acquiring an additional 2,460 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Ituran Location and Control by 38.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,897 shares of the industrial products company's stock worth $339,000 after purchasing an additional 3,053 shares during the period. Institutional investors own 94.80% of the company's stock.

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Ituran Location and Control Price Performance

ITRN stock traded up $0.18 during midday trading on Tuesday, hitting $33.56. The company's stock had a trading volume of 54,272 shares, compared to its average volume of 96,586. The company's fifty day moving average price is $36.95 and its 200 day moving average price is $32.19. Ituran Location and Control Ltd. has a twelve month low of $24.12 and a twelve month high of $45.43. The stock has a market capitalization of $667.64 million, a P/E ratio of 12.86 and a beta of 0.90.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its 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 return on equity of 28.31% and a net margin of 15.65%. The business 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. Stockholders of record on Thursday, March 20th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.96%. The ex-dividend date 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 dividend payout ratio is presently 73.80%.

Wall Street Analyst Weigh In

Separately, Barclays boosted 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.

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.