Y.D. More Investments Ltd Acquires 39,718 Shares of Ituran Location and Control Ltd. $ITRN

Y.D. More Investments Ltd increased its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 858,274 shares of the industrial products company’s stock after purchasing an additional 39,718 shares during the period. Ituran Location and Control makes up 1.7% of Y.D. More Investments Ltd’s portfolio, making the stock its 14th biggest position. Y.D. More Investments Ltd’s holdings in Ituran Location and Control were worth $37,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITRN. Ibex Investors LLC grew its stake in shares of Ituran Location and Control by 2.3% in the 3rd quarter. Ibex Investors LLC now owns 896,313 shares of the industrial products company’s stock valued at $32,016,000 after purchasing an additional 20,000 shares during the period. Aristides Capital LLC lifted its position in shares of Ituran Location and Control by 21.9% during the 3rd quarter. Aristides Capital LLC now owns 280,395 shares of the industrial products company’s stock worth $10,016,000 after buying an additional 50,421 shares during the period. Pekin Hardy Strauss Inc. boosted its stake in Ituran Location and Control by 29.1% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 230,308 shares of the industrial products company’s stock valued at $8,227,000 after buying an additional 51,939 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Ituran Location and Control by 32.1% in the 3rd quarter. Raymond James Financial Inc. now owns 159,200 shares of the industrial products company’s stock valued at $5,687,000 after buying an additional 38,655 shares in the last quarter. Finally, Inlet Private Wealth LLC grew its position in Ituran Location and Control by 4.4% in the third quarter. Inlet Private Wealth LLC now owns 140,195 shares of the industrial products company’s stock valued at $5,008,000 after acquiring an additional 5,845 shares during the period. Institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ITRN shares. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a report on Friday, March 27th. Barclays upped their target price on shares of Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Wall Street Zen cut shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Maxim Group initiated coverage on shares of Ituran Location and Control in a report on Thursday, March 12th. They set a “buy” rating and a $70.00 price target for the company. Finally, Loop Capital set a $57.00 price objective on shares of Ituran Location and Control in a research note on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $60.67.

Ituran Location and Control Stock Performance

Shares of NASDAQ ITRN opened at $51.15 on Monday. Ituran Location and Control Ltd. has a 1-year low of $30.06 and a 1-year high of $53.33. The company has a 50-day moving average of $48.24 and a two-hundred day moving average of $42.77. The company has a market cap of $1.02 billion, a PE ratio of 17.58 and a beta of 0.66.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Saturday, February 14th. The industrial products company reported $0.77 EPS for the quarter. The business had revenue of $93.50 million for the quarter. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%.

Ituran Location and Control Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Monday, March 30th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 11.7%. The ex-dividend date is Monday, March 30th. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.50. Ituran Location and Control’s dividend payout ratio is 206.19%.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.