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

Ituran Location and Control (NASDAQ:ITRN) had its price objective upped by Barclays from $35.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Ituran Location and Control Trading Down 2.1 %

Ituran Location and Control stock opened at $41.88 on Thursday. Ituran Location and Control has a 12 month low of $24.12 and a 12 month high of $45.43. The business’s 50 day simple moving average is $34.34 and its 200 day simple moving average is $30.19. The company has a market cap of $833.16 million, a price-to-earnings ratio of 16.05 and a beta of 1.15.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%. The business 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 business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.00 annualized dividend and a dividend yield of 4.78%. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39. Ituran Location and Control’s dividend payout ratio is currently 59.77%.

Institutional Investors Weigh In On Ituran Location and Control

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Ituran Location and Control by 58.3% during the third quarter. JPMorgan Chase & Co. now owns 39,464 shares of the industrial products company’s stock worth $1,047,000 after acquiring an additional 14,527 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Ituran Location and Control during the third quarter worth $767,000. Assenagon Asset Management S.A. purchased a new stake in shares of Ituran Location and Control during the fourth quarter worth $835,000. Blue Trust Inc. lifted its position in shares of Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 598 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

About Ituran Location and Control

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.