CWA Asset Management Group LLC Purchases 40,027 Shares of Ituran Location and Control Ltd. $ITRN

CWA Asset Management Group LLC grew its position in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 212.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,864 shares of the industrial products company’s stock after buying an additional 40,027 shares during the quarter. CWA Asset Management Group LLC’s holdings in Ituran Location and Control were worth $2,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in Ituran Location and Control by 18.5% in the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock valued at $28,097,000 after acquiring an additional 113,594 shares in the last quarter. Aristides Capital LLC increased its holdings in shares of Ituran Location and Control by 11.9% in the 2nd quarter. Aristides Capital LLC now owns 229,974 shares of the industrial products company’s stock worth $8,907,000 after purchasing an additional 24,370 shares in the last quarter. Inflection Point Investments LLP raised its stake in shares of Ituran Location and Control by 1.0% in the second quarter. Inflection Point Investments LLP now owns 197,997 shares of the industrial products company’s stock worth $7,591,000 after purchasing an additional 2,000 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in shares of Ituran Location and Control by 7.7% during the second quarter. Pekin Hardy Strauss Inc. now owns 178,369 shares of the industrial products company’s stock valued at $6,908,000 after purchasing an additional 12,744 shares in the last quarter. Finally, Seizert Capital Partners LLC lifted its holdings in shares of Ituran Location and Control by 2.3% during the second quarter. Seizert Capital Partners LLC now owns 161,105 shares of the industrial products company’s stock valued at $6,240,000 after purchasing an additional 3,588 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Up 4.5%

Shares of ITRN stock opened at $44.44 on Tuesday. Ituran Location and Control Ltd. has a 12 month low of $30.06 and a 12 month high of $45.43. The company has a 50 day simple moving average of $40.53 and a two-hundred day simple moving average of $38.54.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%. The business had revenue of $92.28 million for the quarter, compared to analysts’ expectations of $86.52 million.

Ituran Location and Control Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, December 29th. Ituran Location and Control’s payout ratio is currently 70.42%.

Wall Street Analyst Weigh In

ITRN has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $50.00.

Ituran Location and Control 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.