Hennion & Walsh Asset Management Inc. Acquires 11,560 Shares of Ituran Location and Control Ltd. $ITRN

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 39.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,845 shares of the industrial products company’s stock after acquiring an additional 11,560 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Ituran Location and Control were worth $2,492,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position in Ituran Location and Control by 257.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 453 shares during the period. Global Retirement Partners LLC raised its position in shares of Ituran Location and Control by 50.1% in the fourth quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 219 shares during the period. Advisory Services Network LLC bought a new position in shares of Ituran Location and Control in the third quarter valued at about $28,000. Jones Financial Companies Lllp lifted its stake in shares of Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after buying an additional 939 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Ituran Location and Control during the 3rd quarter worth about $53,000. Institutional investors own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. UBS Group restated a “buy” rating on shares of Ituran Location and Control in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ituran Location and Control currently has an average rating of “Moderate Buy” and an average target price of $60.67.

Ituran Location and Control Stock Performance

ITRN opened at $52.66 on Wednesday. Ituran Location and Control Ltd. has a fifty-two week low of $32.71 and a fifty-two week high of $68.30. The company has a market capitalization of $1.05 billion, a P/E ratio of 17.38 and a beta of 0.79. The stock has a fifty day moving average of $58.95 and a 200-day moving average of $54.66.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. The company had revenue of $102.67 million during the quarter, compared to analysts’ expectations of $95.32 million. On average, equities research analysts predict that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current fiscal year.

Ituran Location and Control Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 24th were paid a $0.50 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.00 annualized dividend and a yield of 3.8%. Ituran Location and Control’s payout ratio is 66.01%.

Ituran Location and Control 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.