Ituran Location and Control Ltd. to Issue Quarterly Dividend of $0.11 (NASDAQ:ITRN)

Ituran Location and Control Ltd. (NASDAQ:ITRN – Get Rating) declared a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Wednesday, June 28th will be given a dividend of 0.112 per share by the industrial products company on Wednesday, July 12th. This represents a $0.45 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, June 27th.

Ituran Location and Control has decreased its dividend by an average of 16.2% annually over the last three years. Ituran Location and Control has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $23.75 on Thursday. Ituran Location and Control has a fifty-two week low of $20.35 and a fifty-two week high of $27.52. The firm has a 50-day simple moving average of $21.57 and a two-hundred day simple moving average of $22.09.

Ituran Location and Control (NASDAQ:ITRN – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The industrial products company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). Ituran Location and Control had a return on equity of 25.04% and a net margin of 12.66%. The firm had revenue of $74.95 million during the quarter, compared to analysts’ expectations of $74.63 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 16th.

Institutional Investors Weigh In On Ituran Location and Control

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Ituran Location and Control by 11,714.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,308 shares of the industrial products company’s stock valued at $77,000 after buying an additional 3,280 shares during the last quarter. Sei Investments Co. lifted its holdings in Ituran Location and Control by 1.7% in the first quarter. Sei Investments Co. now owns 88,590 shares of the industrial products company’s stock valued at $2,039,000 after acquiring an additional 1,460 shares during the period. Invesco Ltd. boosted its position in Ituran Location and Control by 27.6% in the first quarter. Invesco Ltd. now owns 20,837 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 4,502 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Ituran Location and Control during the 1st quarter valued at about $205,000. Finally, State Street Corp increased its position in shares of Ituran Location and Control by 0.6% during the 1st quarter. State Street Corp now owns 307,013 shares of the industrial products company’s stock valued at $7,111,000 after purchasing an additional 1,961 shares during the last quarter. Hedge funds and other institutional investors own 55.45% of the company’s stock.

About Ituran Location and Control

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Ituran Location & Control Ltd. engages in the provision of stolen vehicle recovery, fleet management, and tracking services. It operates through the following segments: Telematics Services and Telematics Products. The Telematics Services segment consists predominantly of regionally- based stolen vehicle recovery services, fleet management services and value-added services comprised of personal advanced locater services and concierge services.