6,651 Shares in Ituran Location and Control Ltd. (NASDAQ:ITRN) Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D acquired a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,651 shares of the industrial products company's stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in ITRN. Blue Trust Inc. raised its stake in shares of Ituran Location and Control by 63.4% in the 3rd quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company's stock valued at $38,000 after buying an additional 598 shares in the last quarter. Semanteon Capital Management LP acquired a new position in shares of Ituran Location and Control in the 3rd quarter valued at $225,000. Meitav Investment House Ltd. acquired a new position in shares of Ituran Location and Control in the 3rd quarter valued at $250,000. Rice Hall James & Associates LLC raised its stake in shares of Ituran Location and Control by 16.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 516,699 shares of the industrial products company's stock valued at $13,713,000 after buying an additional 72,656 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Ituran Location and Control in the 3rd quarter valued at $280,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Analyst Upgrades and Downgrades

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

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Ituran Location and Control Trading Down 2.1 %

Shares of Ituran Location and Control stock traded down $0.90 during mid-day trading on Friday, reaching $41.88. 343,047 shares of the stock were exchanged, compared to its average volume of 226,437. The company has a market cap of $833.16 million, a price-to-earnings ratio of 16.05 and a beta of 1.15. The firm has a 50-day simple moving average of $34.34 and a 200 day simple moving average of $30.19. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $82.88 million during 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 company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.78%. This is a boost from Ituran Location and Control's previous quarterly dividend of $0.39. Ituran Location and Control's dividend payout ratio (DPR) is 59.77%.

About Ituran Location and Control

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.