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

ARK Investment Management LLC trimmed its holdings in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 79,690 shares of the industrial products company’s stock after selling 6,994 shares during the quarter. ARK Investment Management LLC’s holdings in Ituran Location and Control were worth $2,115,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Rice Hall James & Associates LLC boosted its position in Ituran Location and Control by 16.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 516,699 shares of the industrial products company’s stock valued at $13,713,000 after acquiring an additional 72,656 shares in the last quarter. Acadian Asset Management LLC boosted its position in Ituran Location and Control by 21.3% during the second quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock valued at $11,884,000 after purchasing an additional 85,023 shares in the last quarter. Aristides Capital LLC boosted its position in Ituran Location and Control by 23.3% during the second quarter. Aristides Capital LLC now owns 179,740 shares of the industrial products company’s stock valued at $4,429,000 after purchasing an additional 33,958 shares in the last quarter. Inlet Private Wealth LLC raised its holdings in Ituran Location and Control by 5.8% in the third quarter. Inlet Private Wealth LLC now owns 150,200 shares of the industrial products company’s stock worth $3,986,000 after purchasing an additional 8,300 shares in the last quarter. Finally, Delphi Management Inc. MA raised its holdings in Ituran Location and Control by 2.9% in the second quarter. Delphi Management Inc. MA now owns 63,522 shares of the industrial products company’s stock worth $1,565,000 after purchasing an additional 1,816 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $28.02 on Friday. The company’s 50-day simple moving average is $27.03 and its 200-day simple moving average is $26.64. Ituran Location and Control Ltd. has a fifty-two week low of $24.01 and a fifty-two week high of $30.00. The stock has a market capitalization of $557.32 million, a P/E ratio of 10.99 and a beta of 1.14.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Monday, August 19th. The industrial products company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. Ituran Location and Control had a net margin of 15.42% and a return on equity of 28.43%. The company had revenue of $84.87 million during the quarter.

Ituran Location and Control Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Thursday, September 26th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.56 annualized dividend and a yield of 5.57%. Ituran Location and Control’s dividend payout ratio (DPR) is 61.18%.

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.