Asset One Wealth Management LLC Makes New $2.26 Million Investment in Ituran Location and Control Ltd. $ITRN

Asset One Wealth Management LLC bought a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 44,157 shares of the industrial products company’s stock, valued at approximately $2,262,000.

A number of other hedge funds have also modified their holdings of ITRN. Cannell & Spears LLC bought a new position in shares of Ituran Location and Control in the first quarter valued at approximately $2,373,000. Navellier & Associates Inc. grew its holdings in Ituran Location and Control by 286.6% during the second quarter. Navellier & Associates Inc. now owns 51,056 shares of the industrial products company’s stock worth $3,115,000 after acquiring an additional 37,849 shares during the period. Y.D. More Investments Ltd grew its position in Ituran Location and Control by 3.8% in the first quarter. Y.D. More Investments Ltd now owns 891,274 shares of the industrial products company’s stock valued at $43,681,000 after acquiring an additional 33,000 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Ituran Location and Control during the first quarter valued at about $1,451,000. Finally, Inspire Investing LLC lifted its position in shares of Ituran Location and Control by 38.2% during the 3rd quarter. Inspire Investing LLC now owns 47,163 shares of the industrial products company’s stock worth $2,416,000 after purchasing an additional 13,035 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Ituran Location and Control from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 22nd. Wall Street Zen downgraded Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.67.

Ituran Location and Control Stock Down 0.3%

ITRN opened at $49.76 on Friday. The stock has a market capitalization of $989.73 million, a price-to-earnings ratio of 16.11 and a beta of 0.79. The company has a 50-day simple moving average of $51.58 and a 200 day simple moving average of $53.64. Ituran Location and Control Ltd. has a twelve month low of $35.22 and a twelve month high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Ituran Location and Control had a net margin of 16.28% and a return on equity of 29.03%. The firm had revenue of $104.79 million for the quarter, compared to analysts’ expectations of $99.84 million. Sell-side analysts anticipate that Ituran Location and Control Ltd. will post 3.54 EPS for the current fiscal year.

Ituran Location and Control Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, September 29th. Ituran Location and Control’s dividend payout ratio (DPR) is presently 61.73%.

About Ituran Location and Control

Ituran Location and Control Ltd. is an Israel-based provider of vehicle location, tracking and control services. The company develops and operates solutions designed to help recover stolen vehicles, monitor vehicle locations and improve the safety, security and management of automobiles and other mobile assets.

Its offerings include stolen-vehicle recovery systems, GPS and cellular tracking devices, fleet-management tools, telematics services and related subscription-based monitoring services.