ARK Investment Management LLC Lowers Holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN)

ARK Investment Management LLC lowered its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,152 shares of the industrial products company’s stock after selling 9,456 shares during the period. ARK Investment Management LLC owned 0.35% of Ituran Location and Control worth $1,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new stake in Ituran Location and Control during the third quarter worth $200,000. Trexquant Investment LP lifted its holdings in Ituran Location and Control by 68.2% during the third quarter. Trexquant Investment LP now owns 25,003 shares of the industrial products company’s stock worth $748,000 after buying an additional 10,134 shares during the period. Barclays PLC lifted its holdings in Ituran Location and Control by 12.2% during the third quarter. Barclays PLC now owns 5,828 shares of the industrial products company’s stock worth $174,000 after buying an additional 633 shares during the period. Lazard Asset Management LLC lifted its holdings in Ituran Location and Control by 506.5% during the third quarter. Lazard Asset Management LLC now owns 37,982 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 31,719 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Ituran Location and Control during the third quarter worth $462,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Trading Down 0.4 %

Shares of ITRN opened at $28.43 on Thursday. Ituran Location and Control Ltd. has a 12 month low of $20.35 and a 12 month high of $31.01. The stock has a fifty day moving average price of $26.44 and a 200-day moving average price of $26.74. The firm has a market cap of $565.47 million, a PE ratio of 11.85 and a beta of 1.16.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Thursday, February 29th. The industrial products company reported $0.60 EPS for the quarter. Ituran Location and Control had a return on equity of 28.61% and a net margin of 15.04%. The firm had revenue of $77.81 million during the quarter.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 5.49%. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, March 19th. Ituran Location and Control’s dividend payout ratio is presently 65.00%.

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.