Hennessy Advisors Inc. Invests $113,000 in Ituran Location and Control Ltd. $ITRN

Hennessy Advisors Inc. bought a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,917 shares of the industrial products company’s stock, valued at approximately $113,000.

A number of other institutional investors also recently modified their holdings of the company. Ibex Investors LLC boosted its holdings in shares of Ituran Location and Control by 1.8% during the first quarter. Ibex Investors LLC now owns 876,313 shares of the industrial products company’s stock worth $31,687,000 after purchasing an additional 15,267 shares during the period. Raymond James Financial Inc. boosted its position in Ituran Location and Control by 44.0% during the 1st quarter. Raymond James Financial Inc. now owns 125,677 shares of the industrial products company’s stock valued at $4,544,000 after acquiring an additional 38,429 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in Ituran Location and Control by 1.3% during the 1st quarter. Segall Bryant & Hamill LLC now owns 76,000 shares of the industrial products company’s stock valued at $2,748,000 after acquiring an additional 1,000 shares in the last quarter. ARK Investment Management LLC bought a new stake in Ituran Location and Control during the 1st quarter valued at approximately $2,131,000. Finally, Four Tree Island Advisory LLC boosted its position in Ituran Location and Control by 93.7% during the 1st quarter. Four Tree Island Advisory LLC now owns 57,198 shares of the industrial products company’s stock valued at $2,068,000 after acquiring an additional 27,665 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Ituran Location and Control Trading Up 0.9%

Shares of ITRN opened at $35.91 on Monday. The firm has a market cap of $714.39 million, a PE ratio of 12.87 and a beta of 0.87. The firm has a fifty day simple moving average of $37.01 and a two-hundred day simple moving average of $36.76. Ituran Location and Control Ltd. has a 1-year low of $25.86 and a 1-year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last announced its 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 for the quarter, compared to analysts’ expectations of $89.17 million.

Ituran Location and Control Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, September 25th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.6%. Ituran Location and Control’s payout ratio is presently 71.68%.

Analyst Upgrades and Downgrades

ITRN has been the topic of several research reports. Wall Street Zen raised Ituran Location and Control from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ituran Location and Control in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $50.00.

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.