Raymond James & Associates Sells 3,147 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Raymond James & Associates lessened its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRNGet Rating) by 3.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,083 shares of the industrial products company’s stock after selling 3,147 shares during the quarter. Raymond James & Associates owned approximately 0.33% of Ituran Location and Control worth $1,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Seizert Capital Partners LLC grew its stake in shares of Ituran Location and Control by 20.9% in the second quarter. Seizert Capital Partners LLC now owns 119,980 shares of the industrial products company’s stock worth $2,938,000 after purchasing an additional 20,755 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Ituran Location and Control in the second quarter worth $278,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Ituran Location and Control in the second quarter worth $225,000. Engineers Gate Manager LP bought a new stake in shares of Ituran Location and Control in the first quarter worth $205,000. Finally, Ibex Investors LLC grew its stake in shares of Ituran Location and Control by 0.6% in the second quarter. Ibex Investors LLC now owns 1,144,707 shares of the industrial products company’s stock worth $28,034,000 after purchasing an additional 6,500 shares during the last quarter. Institutional investors own 55.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Ituran Location and Control in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock.

Ituran Location and Control Stock Down 0.6 %

ITRN stock opened at $22.27 on Wednesday. The firm has a market cap of $522.68 million, a price-to-earnings ratio of 12.30 and a beta of 1.10. Ituran Location and Control Ltd. has a 12-month low of $19.73 and a 12-month high of $27.52. The company’s fifty day simple moving average is $22.28 and its 200 day simple moving average is $23.59.

Ituran Location and Control (NASDAQ:ITRNGet Rating) last released its earnings results on Monday, November 21st. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $72.66 million for the quarter, compared to analyst estimates of $71.09 million. Ituran Location and Control had a net margin of 12.86% and a return on equity of 25.69%. Research analysts expect that Ituran Location and Control Ltd. will post 1.87 earnings per share for the current year.

Ituran Location and Control Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 21st were issued a dividend of $0.105 per share. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $0.42 annualized dividend and a dividend yield of 1.89%. Ituran Location and Control’s dividend payout ratio is currently 23.20%.

About Ituran Location and Control

(Get Rating)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based telematics services and machine-to-machine telematics products. The company's Telematics services segment provides stolen vehicle recovery and tracking services, which 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.

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Institutional Ownership by Quarter for Ituran Location and Control (NASDAQ:ITRN)

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