Navellier & Associates Inc. Acquires Shares of 16,140 Ituran Location and Control Ltd. $ITRN

Navellier & Associates Inc. acquired a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,140 shares of the industrial products company’s stock, valued at approximately $577,000. Navellier & Associates Inc. owned approximately 0.08% of Ituran Location and Control as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Ituran Location and Control in the third quarter worth about $404,000. Thrivent Financial for Lutherans increased its stake in Ituran Location and Control by 100.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 36,496 shares of the industrial products company’s stock worth $1,304,000 after acquiring an additional 18,248 shares during the last quarter. Independent Advisor Alliance purchased a new stake in shares of Ituran Location and Control during the 3rd quarter worth approximately $276,000. New York State Common Retirement Fund raised its holdings in shares of Ituran Location and Control by 6.8% during the 3rd quarter. New York State Common Retirement Fund now owns 9,481 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 606 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of Ituran Location and Control during the 3rd quarter valued at approximately $517,000. 94.80% of the stock is owned by institutional investors.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $47.49 on Thursday. The stock’s fifty day moving average is $43.97 and its 200 day moving average is $39.71. Ituran Location and Control Ltd. has a fifty-two week low of $30.06 and a fifty-two week high of $47.88.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%. The company had revenue of $92.28 million during the quarter, compared to analyst estimates of $86.52 million.

Ituran Location and Control Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.2%. Ituran Location and Control’s payout ratio is currently 70.42%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ITRN shares. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $50.00.

About Ituran Location and Control

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.