Boston Partners Sells 4,683 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Boston Partners lowered its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,694 shares of the industrial products company’s stock after selling 4,683 shares during the quarter. Boston Partners owned about 0.07% of Ituran Location and Control worth $458,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ITRN. 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 purchasing an additional 14,527 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Ituran Location and Control during the 3rd quarter valued at $767,000. Assenagon Asset Management S.A. bought a new position in Ituran Location and Control during the fourth quarter worth $835,000. BNP Paribas Financial Markets boosted its stake in Ituran Location and Control by 214.2% during the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 4,098 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in Ituran Location and Control by 184.5% in the third quarter. Walleye Capital LLC now owns 27,498 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 17,834 shares during the period. 94.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ituran Location and Control Stock Performance

Shares of NASDAQ:ITRN opened at $36.98 on Monday. Ituran Location and Control Ltd. has a 52-week low of $24.12 and a 52-week high of $45.43. The business’s 50 day simple moving average is $36.38 and its two-hundred day simple moving average is $31.25. The firm has a market cap of $735.68 million, a P/E ratio of 14.17 and a beta of 1.10.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (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 business had revenue of $82.88 million during the quarter, compared to the consensus estimate of $81.81 million.

Ituran Location and Control Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Thursday, March 20th. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.39. Ituran Location and Control’s dividend payout ratio is currently 73.80%.

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.