Boston Partners Cuts Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Boston Partners trimmed its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 24.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,694 shares of the industrial products company’s stock after selling 4,683 shares during the quarter. Boston Partners’ holdings in Ituran Location and Control were worth $458,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Ituran Location and Control by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 392 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in Ituran Location and Control by 20.3% during the fourth quarter. CWA Asset Management Group LLC now owns 12,708 shares of the industrial products company’s stock worth $396,000 after buying an additional 2,144 shares during the last quarter. HighTower Advisors LLC raised its position in Ituran Location and Control by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company’s stock worth $968,000 after acquiring an additional 2,249 shares during the period. DGS Capital Management LLC boosted its stake in Ituran Location and Control by 14.8% in the third quarter. DGS Capital Management LLC now owns 19,030 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 2,460 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Ituran Location and Control during the 4th quarter valued at approximately $117,000. 94.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays upped their price objective on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

Ituran Location and Control Stock Performance

Shares of ITRN opened at $36.98 on Monday. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43. The business has a 50-day moving average of $36.38 and a 200 day moving average of $31.25. The firm has a market cap of $735.68 million, a P/E ratio of 14.17 and a beta of 1.10.

Ituran Location and Control (NASDAQ:ITRN) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $82.88 million during the quarter, compared to the consensus estimate of $81.81 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Ituran Location and Control Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.00 annualized dividend and a dividend yield of 5.41%. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39. Ituran Location and Control’s dividend payout ratio is currently 73.80%.

Ituran Location and Control Company 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.