Allianz Asset Management GmbH Decreases Stock Position in Ituran Location and Control Ltd. $ITRN

Allianz Asset Management GmbH trimmed its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 7.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,065 shares of the industrial products company’s stock after selling 3,376 shares during the period. Allianz Asset Management GmbH owned 0.22% of Ituran Location and Control worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ITRN. Teacher Retirement System of Texas purchased a new stake in shares of Ituran Location and Control in the 1st quarter valued at about $262,000. D.A. Davidson & CO. purchased a new stake in shares of Ituran Location and Control in the 1st quarter valued at about $251,000. Envestnet Asset Management Inc. lifted its holdings in shares of Ituran Location and Control by 294.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 43,010 shares of the industrial products company’s stock valued at $1,555,000 after purchasing an additional 32,113 shares during the last quarter. Trek Financial LLC purchased a new stake in shares of Ituran Location and Control in the 1st quarter valued at about $289,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Ituran Location and Control in the 1st quarter valued at about $54,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Trading Up 2.0%

NASDAQ ITRN opened at $38.25 on Friday. The business’s 50 day moving average is $35.81 and its two-hundred day moving average is $36.90. Ituran Location and Control Ltd. has a 12-month low of $26.46 and a 12-month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). Ituran Location and Control had a return on equity of 28.24% and a net margin of 16.35%.The business had revenue of $86.79 million for the quarter, compared to analyst estimates of $89.17 million.

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, September 25th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, September 25th. This represents a $2.00 annualized dividend and a yield of 5.2%. Ituran Location and Control’s payout ratio is presently 71.68%.

Analyst Ratings Changes

ITRN has been the subject of several research reports. Wall Street Zen downgraded Ituran Location and Control from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Ituran Location and Control in a report on Saturday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ituran Location and Control currently has an average rating of “Buy” and a consensus target price of $50.00.

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.