R Squared Ltd Buys New Stake in Ituran Location and Control Ltd. $ITRN

R Squared Ltd purchased a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,585 shares of the industrial products company’s stock, valued at approximately $216,000.

Other institutional investors have also modified their holdings of the company. Costello Asset Management INC acquired a new position in shares of Ituran Location and Control in the first quarter worth $40,000. AdvisorNet Financial Inc grew its stake in shares of Ituran Location and Control by 148.9% in the second quarter. AdvisorNet Financial Inc now owns 1,120 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 670 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Ituran Location and Control by 327.2% in the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 939 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Ituran Location and Control in the first quarter worth $54,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Ituran Location and Control in the second quarter worth $113,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Ituran Location and Control in a research note on Saturday. Wall Street Zen cut shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Price Performance

Shares of ITRN opened at $38.25 on Friday. Ituran Location and Control Ltd. has a 1-year low of $26.46 and a 1-year high of $45.43. The firm has a fifty day moving average price of $35.81 and a 200 day moving average price of $36.90.

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

Ituran Location and Control Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. Ituran Location and Control’s payout ratio is 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.