Raymond James Financial Inc. Has $4.54 Million Position in Ituran Location and Control Ltd. $ITRN

Raymond James Financial Inc. boosted its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 44.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 125,677 shares of the industrial products company’s stock after purchasing an additional 38,429 shares during the quarter. Raymond James Financial Inc.’s holdings in Ituran Location and Control were worth $4,544,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. acquired a new position in Ituran Location and Control during the first quarter valued at approximately $209,000. Nuveen LLC acquired a new position in Ituran Location and Control during the first quarter valued at approximately $558,000. Virtu Financial LLC acquired a new position in Ituran Location and Control during the first quarter valued at approximately $416,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ituran Location and Control by 7.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,543 shares of the industrial products company’s stock valued at $1,936,000 after purchasing an additional 3,689 shares during the period. Finally, Swiss National Bank grew its holdings in Ituran Location and Control by 5.4% during the first quarter. Swiss National Bank now owns 31,425 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Ituran Location and Control currently has a consensus rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Stock Down 0.4%

Shares of ITRN stock opened at $33.77 on Friday. The company’s fifty day simple moving average is $38.60 and its 200-day simple moving average is $37.35. The firm has a market cap of $671.82 million, a PE ratio of 12.10 and a beta of 0.87. Ituran Location and Control Ltd. has a 12 month low of $25.86 and a 12 month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Tuesday, August 19th. The industrial products company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). The business had revenue of $86.79 million during the quarter, compared to the consensus estimate of $89.17 million. Ituran Location and Control had a return on equity of 28.24% and a net margin of 16.35%.

Ituran Location and Control Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, September 25th will be paid a $0.50 dividend. The ex-dividend date is Thursday, September 25th. This represents a $2.00 dividend on an annualized basis and a yield of 5.9%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 71.68%.

Ituran Location and Control Profile

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.