Ituran Location and Control Ltd. (NASDAQ:ITRN) Shares Bought by Heron Bay Capital Management

Heron Bay Capital Management raised its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,845 shares of the industrial products company’s stock after acquiring an additional 3,236 shares during the quarter. Heron Bay Capital Management owned approximately 0.08% of Ituran Location and Control worth $494,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Seizert Capital Partners LLC raised its holdings 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Ituran Location and Control in the fourth quarter valued at $2,718,000. Segall Bryant & Hamill LLC increased its stake in Ituran Location and Control by 43.6% in the third quarter. Segall Bryant & Hamill LLC now owns 84,600 shares of the industrial products company’s stock valued at $2,245,000 after purchasing an additional 25,700 shares during the last quarter. Delphi Management Inc. MA increased its stake in Ituran Location and Control by 12.3% in the fourth quarter. Delphi Management Inc. MA now owns 55,076 shares of the industrial products company’s stock valued at $1,716,000 after purchasing an additional 6,015 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Ituran Location and Control by 11.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,854 shares of the industrial products company’s stock valued at $1,553,000 after purchasing an additional 5,220 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Trading Up 0.2 %

Ituran Location and Control stock opened at $36.98 on Friday. The stock has a fifty day moving average price of $36.38 and a 200 day moving average price of $31.22. Ituran Location and Control Ltd. has a 52 week low of $24.12 and a 52 week high of $45.43. The firm has a market capitalization 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 analysts’ consensus estimates of $0.68 by $0.02. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%. The firm 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 company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39. Ituran Location and Control’s payout ratio is 73.80%.

Analysts Set New Price Targets

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

Ituran Location and Control Profile

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.