Ituran Location and Control (NASDAQ:ITRN) Price Target Raised to $50.00

Ituran Location and Control (NASDAQ:ITRN) had its price objective lifted by Barclays from $35.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Ituran Location and Control Price Performance

Shares of Ituran Location and Control stock opened at $41.88 on Thursday. Ituran Location and Control has a one year low of $24.12 and a one year high of $45.43. The firm has a market capitalization of $833.16 million, a price-to-earnings ratio of 16.05 and a beta of 1.15. The business has a 50-day simple moving average of $34.34 and a 200 day simple moving average of $30.19.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $82.88 million during the quarter, compared to analyst estimates of $81.81 million. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.50 per share. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Thursday, March 20th. Ituran Location and Control’s payout ratio is currently 59.77%.

Institutional Trading of Ituran Location and Control

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITRN. Blue Trust Inc. increased its holdings in Ituran Location and Control by 63.4% during the 3rd quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 598 shares in the last quarter. R Squared Ltd bought a new stake in Ituran Location and Control during the 4th quarter worth approximately $117,000. Van ECK Associates Corp boosted its stake in shares of Ituran Location and Control by 11.3% in the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock worth $121,000 after buying an additional 392 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Ituran Location and Control in the 3rd quarter worth approximately $137,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Ituran Location and Control by 214.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock worth $160,000 after buying an additional 4,098 shares during the last quarter. 94.80% of the stock is owned by institutional investors.

Ituran Location and Control Company 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.