Ituran Location and Control Ltd. (NASDAQ:ITRN) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,854 shares of the industrial products company’s stock after acquiring an additional 5,220 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of Ituran Location and Control worth $1,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ITRN. JPMorgan Chase & Co. grew its position in Ituran Location and Control by 58.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 39,464 shares of the industrial products company’s stock valued at $1,047,000 after buying an additional 14,527 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Ituran Location and Control in the third quarter valued at about $767,000. Assenagon Asset Management S.A. purchased a new stake in shares of Ituran Location and Control in the fourth quarter valued at about $835,000. BNP Paribas Financial Markets increased its stake in shares of Ituran Location and Control by 214.2% during the third quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 4,098 shares during the period. Finally, Walleye Capital LLC raised its holdings in Ituran Location and Control by 184.5% during the third quarter. Walleye Capital LLC now owns 27,498 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 17,834 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $37.87 on Thursday. The stock has a market capitalization of $753.39 million, a price-to-earnings ratio of 14.51 and a beta of 1.10. Ituran Location and Control Ltd. has a 1 year low of $24.12 and a 1 year high of $45.43. The stock has a fifty day moving average price of $36.17 and a two-hundred day moving average price of $31.10.

Ituran Location and Control (NASDAQ:ITRN) last released 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. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The firm had revenue of $82.88 million for the quarter, compared to the consensus estimate of $81.81 million.

Ituran Location and Control Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a $0.50 dividend. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Thursday, March 20th. Ituran Location and Control’s dividend payout ratio (DPR) is presently 73.80%.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price objective on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 27th.

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.