Belpointe Asset Management LLC Takes $517,000 Position in Ituran Location and Control Ltd. $ITRN

Belpointe Asset Management LLC bought a new position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the third quarter, Holdings Channel.com reports. The institutional investor bought 14,474 shares of the industrial products company’s stock, valued at approximately $517,000.

Other large investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd raised its position in Ituran Location and Control by 684.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,268 shares of the industrial products company’s stock worth $1,510,000 after buying an additional 36,877 shares during the last quarter. Inlet Private Wealth LLC increased its stake in shares of Ituran Location and Control by 4.4% in the third quarter. Inlet Private Wealth LLC now owns 140,195 shares of the industrial products company’s stock worth $5,008,000 after acquiring an additional 5,845 shares during the period. Covestor Ltd purchased a new position in shares of Ituran Location and Control during the third quarter worth $47,000. Hennion & Walsh Asset Management Inc. lifted its position in Ituran Location and Control by 68.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,083 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 3,682 shares during the period. Finally, CWA Asset Management Group LLC boosted its holdings in Ituran Location and Control by 212.5% in the third quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock valued at $2,103,000 after purchasing an additional 40,027 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Price Performance

Shares of ITRN opened at $44.63 on Friday. Ituran Location and Control Ltd. has a 12 month low of $30.06 and a 12 month high of $45.90. The stock’s 50 day moving average is $43.03 and its two-hundred day moving average is $39.34.

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

Ituran Location and Control Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors 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 dividend on an annualized basis and a yield of 4.5%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 70.42%.

Analyst Ratings Changes

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

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.