UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in Ituran Location and Control Ltd. (NASDAQ:ITRN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,629 shares of the industrial products company’s stock after buying an additional 2,075 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Ituran Location and Control worth $923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ITRN. Van ECK Associates Corp boosted its position in shares of Ituran Location and Control by 11.3% in the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock worth $121,000 after buying an additional 392 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Ituran Location and Control in the 4th quarter worth about $178,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Ituran Location and Control in the 4th quarter worth about $207,000. Atria Investments Inc purchased a new stake in shares of Ituran Location and Control in the 4th quarter worth about $209,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Ituran Location and Control in the 4th quarter worth about $223,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Ituran Location and Control Trading Down 2.0%

NASDAQ:ITRN opened at $36.26 on Wednesday. The firm has a market cap of $721.36 million, a price-to-earnings ratio of 13.89 and a beta of 0.82. The company’s 50-day moving average is $35.64 and its two-hundred day moving average is $34.76. Ituran Location and Control Ltd. has a 12-month low of $24.12 and a 12-month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $86.46 million for the quarter, compared to analyst estimates of $88.47 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Ituran Location and Control Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $2.00 dividend on an annualized basis and a yield of 5.52%. Ituran Location and Control’s dividend payout ratio (DPR) is 71.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 30th. Barclays upped their target price on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 27th.

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.