Ituran Location and Control (NASDAQ:ITRN) Sets New 12-Month High – Here’s What Happened

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $45.90 and last traded at $44.65, with a volume of 91856 shares traded. The stock had previously closed at $45.40.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ITRN. Wall Street Zen upgraded Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $50.00.

Ituran Location and Control Price Performance

The firm has a market capitalization of $888.09 million, a PE ratio of 15.72 and a beta of 0.71. The business has a 50-day simple moving average of $41.56 and a 200-day simple moving average of $38.98.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.06. The firm had revenue of $92.28 million for the quarter, compared to the consensus estimate of $86.52 million. Ituran Location and Control had a return on equity of 27.68% and a net margin of 16.23%.

Ituran Location and Control Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 29th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. Ituran Location and Control’s dividend payout ratio is currently 70.42%.

Hedge Funds Weigh In On Ituran Location and Control

Several hedge funds have recently added to or reduced their stakes in ITRN. Natixis Advisors LLC boosted its position in shares of Ituran Location and Control by 2.8% during the third quarter. Natixis Advisors LLC now owns 12,054 shares of the industrial products company’s stock valued at $431,000 after buying an additional 333 shares during the period. Legato Capital Management LLC lifted its stake in shares of Ituran Location and Control by 8.4% during the 3rd quarter. Legato Capital Management LLC now owns 5,698 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 443 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in Ituran Location and Control by 33.4% during the 3rd quarter. Copeland Capital Management LLC now owns 1,871 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 468 shares during the period. Atria Investments Inc grew its position in Ituran Location and Control by 5.1% in the 2nd quarter. Atria Investments Inc now owns 11,043 shares of the industrial products company’s stock valued at $428,000 after acquiring an additional 532 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Ituran Location and Control by 3.5% in the second quarter. California State Teachers Retirement System now owns 15,970 shares of the industrial products company’s stock worth $619,000 after purchasing an additional 536 shares during the period. 94.80% of the stock is currently owned by institutional investors.

About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.