Delek Group Ltd. Takes $5.22 Million Position in Ituran (ITRN)
Delek Group Ltd. bought a new position in Ituran (NASDAQ:ITRN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 151,852 shares of the industrial products company’s stock, valued at approximately $5,222,000. Delek Group Ltd. owned 0.72% of Ituran as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Meitav Dash Investments Ltd. purchased a new stake in Ituran in the 4th quarter worth approximately $361,000. Two Sigma Investments LP grew its stake in Ituran by 23.4% in the 4th quarter. Two Sigma Investments LP now owns 25,010 shares of the industrial products company’s stock worth $855,000 after acquiring an additional 4,741 shares during the period. Two Sigma Advisers LP purchased a new stake in Ituran in the 4th quarter worth approximately $252,000. Deutsche Bank AG grew its stake in Ituran by 52.5% in the 4th quarter. Deutsche Bank AG now owns 40,849 shares of the industrial products company’s stock worth $1,396,000 after acquiring an additional 14,059 shares during the period. Finally, Advisor Group Inc. grew its stake in Ituran by 470.7% in the 4th quarter. Advisor Group Inc. now owns 5,861 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 4,834 shares during the period. 54.51% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on ITRN shares. BidaskClub cut shares of Ituran from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Zacks Investment Research raised shares of Ituran from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, March 14th.
Ituran (NASDAQ:ITRN) last announced its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter. Ituran had a net margin of 18.36% and a return on equity of 34.76%. The company had revenue of $61.29 million during the quarter. analysts anticipate that Ituran will post 2.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Tuesday, March 27th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 2.69%. Ituran’s dividend payout ratio is presently 45.93%.
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Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which enable 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 personal locator services that allow customers to protect valuable merchandise and equipment.
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