Delphi Management Inc. MA Buys 6,015 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Delphi Management Inc. MA raised its stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,076 shares of the industrial products company’s stock after buying an additional 6,015 shares during the period. Ituran Location and Control makes up 1.7% of Delphi Management Inc. MA’s portfolio, making the stock its 4th biggest position. Delphi Management Inc. MA owned about 0.28% of Ituran Location and Control worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ituran Location and Control by 11.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,854 shares of the industrial products company’s stock valued at $1,553,000 after buying an additional 5,220 shares during the period. HighTower Advisors LLC grew its stake in shares of Ituran Location and Control by 7.8% in the 4th quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company’s stock worth $968,000 after purchasing an additional 2,249 shares during the last quarter. Inceptionr LLC acquired a new position in shares of Ituran Location and Control in the 4th quarter worth approximately $230,000. Raymond James Financial Inc. acquired a new position in shares of Ituran Location and Control in the 4th quarter worth approximately $2,718,000. Finally, Seizert Capital Partners LLC grew its stake in shares of Ituran Location and Control by 32.3% in the 4th quarter. Seizert Capital Partners LLC now owns 158,204 shares of the industrial products company’s stock worth $4,928,000 after purchasing an additional 38,652 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analyst Weigh In

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

Ituran Location and Control Price Performance

Shares of ITRN opened at $37.49 on Tuesday. Ituran Location and Control Ltd. has a 12-month low of $24.12 and a 12-month high of $45.43. The firm’s 50 day moving average is $35.92 and its 200-day moving average is $30.99. The stock has a market capitalization of $745.83 million, a P/E ratio of 14.36 and a beta of 1.10.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, topping the consensus estimate 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 company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $81.81 million.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.33%. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, March 20th. Ituran Location and Control’s dividend payout ratio (DPR) is presently 73.80%.

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.