R Squared Ltd Sells 13,202 Shares of Ituran Location and Control Ltd. $ITRN

R Squared Ltd cut its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 66.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,560 shares of the industrial products company’s stock after selling 13,202 shares during the quarter. R Squared Ltd’s holdings in Ituran Location and Control were worth $322,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Ituran Location and Control by 257.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock valued at $27,000 after buying an additional 453 shares during the period. Global Retirement Partners LLC boosted its position 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 period. Advisory Services Network LLC bought a new stake in Ituran Location and Control during the 3rd quarter worth approximately $28,000. Jones Financial Companies Lllp grew its holdings 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 acquiring an additional 939 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in Ituran Location and Control in the 3rd quarter valued at approximately $53,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ITRN shares. Zacks Research upgraded shares of Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. UBS Group reaffirmed a “buy” rating on shares of Ituran Location and Control in a research report on Wednesday, May 27th. Maxim Group initiated coverage on Ituran Location and Control in a research report on Thursday, March 12th. They issued a “buy” rating and a $70.00 price target on the stock. Wall Street Zen raised Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Ituran Location and Control presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Ituran Location and Control Stock Down 4.9%

Shares of NASDAQ ITRN opened at $55.08 on Wednesday. The company has a market capitalization of $1.10 billion, a PE ratio of 18.18 and a beta of 0.77. Ituran Location and Control Ltd. has a twelve month low of $32.71 and a twelve month high of $68.30. The firm has a fifty day simple moving average of $61.27 and a 200 day simple moving average of $52.63.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Tuesday, May 26th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $95.32 million. As a group, equities analysts expect 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 will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, June 24th. Ituran Location and Control’s payout ratio is presently 66.01%.

Ituran Location and Control Company Profile

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.