7,257 Shares in Ituran Location and Control Ltd. (NASDAQ:ITRN) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,257 shares of the industrial products company’s stock, valued at approximately $262,000.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Ituran Location and Control during the fourth quarter worth $178,000. Balyasny Asset Management L.P. purchased a new stake in Ituran Location and Control during the fourth quarter worth about $223,000. GeoWealth Management LLC increased its stake in Ituran Location and Control by 7,556.8% during the fourth quarter. GeoWealth Management LLC now owns 7,274 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 7,179 shares during the period. Thrivent Financial for Lutherans purchased a new stake in Ituran Location and Control during the fourth quarter worth about $229,000. Finally, Algert Global LLC acquired a new stake in shares of Ituran Location and Control in the fourth quarter valued at $243,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Ituran Location and Control Trading Down 0.1%

Shares of ITRN opened at $38.86 on Friday. Ituran Location and Control Ltd. has a twelve month low of $25.09 and a twelve month high of $45.43. The stock’s 50 day moving average is $37.75 and its two-hundred day moving average is $36.19. The firm has a market capitalization of $772.93 million, a PE ratio of 13.98 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $86.46 million for the quarter, compared to analyst estimates of $88.47 million. Ituran Location and Control had a return on equity of 29.19% and a net margin of 16.35%.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $2.00 annualized dividend and a yield of 5.15%. Ituran Location and Control’s dividend payout ratio (DPR) is presently 71.94%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th.

Ituran Location and Control 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.