Aristides Capital LLC Reduces Stock Holdings in Ituran Location and Control Ltd. $ITRN

Aristides Capital LLC trimmed its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 6.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 264,757 shares of the industrial products company’s stock after selling 18,648 shares during the period. Ituran Location and Control accounts for 2.1% of Aristides Capital LLC’s portfolio, making the stock its 3rd largest position. Aristides Capital LLC owned 1.33% of Ituran Location and Control worth $12,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Ituran Location and Control by 257.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock worth $27,000 after buying an additional 453 shares during the last quarter. Global Retirement Partners LLC grew its stake in Ituran Location and Control by 50.1% during the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock worth $28,000 after buying an additional 219 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Ituran Location and Control in the third quarter valued at about $28,000. Jones Financial Companies Lllp grew its stake in shares of Ituran Location and Control by 327.2% during the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 939 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Ituran Location and Control in the 3rd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analysts Set New Price Targets

ITRN has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. UBS Group reiterated a “buy” rating on shares of Ituran Location and Control in a research report on Wednesday, May 27th. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a research note on Friday, March 27th. Finally, Zacks Research upgraded shares of Ituran Location and Control to a “hold” rating in a research note on Thursday, May 28th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.67.

Ituran Location and Control Trading Down 1.5%

Shares of ITRN stock opened at $55.30 on Friday. Ituran Location and Control Ltd. has a 12-month low of $32.71 and a 12-month high of $68.30. The company has a market capitalization of $1.10 billion, a P/E ratio of 18.25 and a beta of 0.77. The business’s 50 day moving average is $60.67 and its two-hundred day moving average is $53.71.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. The business had revenue of $102.67 million for the quarter, compared to the consensus estimate of $95.32 million. On average, research analysts predict that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current fiscal year.

Ituran Location and Control Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, June 24th. Ituran Location and Control’s payout ratio is currently 66.01%.

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.