Raymond James Financial Inc. Invests $2.72 Million in Ituran Location and Control Ltd. (NASDAQ:ITRN)

Raymond James Financial Inc. purchased a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 87,248 shares of the industrial products company’s stock, valued at approximately $2,718,000.

Several other large investors have also bought and sold shares of ITRN. Seizert Capital Partners LLC increased its position in shares of Ituran Location and Control by 32.3% in the fourth quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company’s stock worth $4,928,000 after acquiring an additional 38,652 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ituran Location and Control by 58.3% in the third quarter. JPMorgan Chase & Co. now owns 39,464 shares of the industrial products company’s stock worth $1,047,000 after buying an additional 14,527 shares during the last quarter. Four Tree Island Advisory LLC bought a new stake in Ituran Location and Control in the fourth quarter worth approximately $920,000. HighTower Advisors LLC acquired a new stake in shares of Ituran Location and Control in the 3rd quarter valued at $767,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Ituran Location and Control by 103.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,554 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 14,020 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Price Performance

ITRN opened at $36.58 on Friday. The company has a market capitalization of $727.72 million, a P/E ratio of 14.02 and a beta of 1.10. The firm’s fifty day moving average price is $36.83 and its two-hundred day moving average price is $31.54. Ituran Location and Control Ltd. has a fifty-two week low of $24.12 and a fifty-two week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The company had revenue of $82.88 million for the quarter, compared to the consensus estimate of $81.81 million.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a $0.50 dividend. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Thursday, March 20th. Ituran Location and Control’s dividend payout ratio (DPR) is 73.80%.

Analyst Ratings Changes

Separately, Barclays raised their price target on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th.

About Ituran Location and Control

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.