Ritholtz Wealth Management Buys 10,300 Shares of Ituran Location and Control Ltd. $ITRN

Ritholtz Wealth Management boosted its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 119.7% during the second quarter, Holdings Channel.com reports. The firm owned 18,905 shares of the industrial products company’s stock after acquiring an additional 10,300 shares during the quarter. Ritholtz Wealth Management’s holdings in Ituran Location and Control were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITRN. SG Americas Securities LLC purchased a new stake in Ituran Location and Control in the first quarter worth about $637,000. CWA Asset Management Group LLC grew its holdings in Ituran Location and Control by 18.0% in the first quarter. CWA Asset Management Group LLC now owns 14,990 shares of the industrial products company’s stock worth $542,000 after purchasing an additional 2,282 shares during the period. Spirepoint Private Client LLC purchased a new stake in Ituran Location and Control in the first quarter worth about $297,000. Total Wealth Planning & Management Inc. purchased a new stake in Ituran Location and Control in the first quarter worth about $1,216,000. Finally, Teacher Retirement System of Texas purchased a new stake in Ituran Location and Control in the first quarter worth about $262,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Trading Down 1.7%

NASDAQ:ITRN opened at $37.05 on Friday. The company’s 50 day moving average price is $36.23 and its 200-day moving average price is $36.74. Ituran Location and Control Ltd. has a 52 week low of $26.46 and a 52 week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings results 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). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The firm had revenue of $86.79 million for the quarter, compared to analysts’ expectations of $89.17 million.

Ituran Location and Control Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were issued a $0.50 dividend. The ex-dividend date was Thursday, September 25th. This represents a $2.00 annualized dividend and a yield of 5.4%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 71.68%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Ituran Location and Control in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ituran Location and Control has an average rating of “Buy” and a consensus target price of $50.00.

About Ituran Location and Control

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.