Stratos Wealth Partners LTD. Takes $293,000 Position in Ituran Location and Control Ltd. $ITRN

Stratos Wealth Partners LTD. purchased a new position in Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,578 shares of the industrial products company’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITRN. Costello Asset Management INC acquired a new stake in Ituran Location and Control during the 1st quarter worth $40,000. AdvisorNet Financial Inc boosted its stake in Ituran Location and Control by 148.9% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,120 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 670 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 939 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Ituran Location and Control during the 1st quarter worth $54,000. Finally, Hennessy Advisors Inc. acquired a new stake in Ituran Location and Control during the 2nd quarter worth $113,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ITRN shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ituran Location and Control in a research note on Saturday. Wall Street Zen cut shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Trading Up 2.0%

Shares of NASDAQ:ITRN opened at $38.25 on Friday. The firm’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 1 year low of $26.46 and a 1 year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $89.17 million.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, September 25th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, September 25th. Ituran Location and Control’s dividend payout ratio is 71.68%.

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.