ARK Investment Management LLC Invests $2.13 Million in Ituran Location and Control Ltd. (NASDAQ:ITRN)

ARK Investment Management LLC acquired a new stake in shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 58,927 shares of the industrial products company’s stock, valued at approximately $2,131,000. ARK Investment Management LLC owned about 0.30% of Ituran Location and Control as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of Ituran Location and Control by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 15,161 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 532 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in shares of Ituran Location and Control by 1.3% in the first quarter. Segall Bryant & Hamill LLC now owns 76,000 shares of the industrial products company’s stock worth $2,748,000 after buying an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Ituran Location and Control in the first quarter worth approximately $54,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Ituran Location and Control by 7.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,629 shares of the industrial products company’s stock valued at $923,000 after buying an additional 2,075 shares during the period. Finally, XTX Topco Ltd increased its holdings in Ituran Location and Control by 10.5% during the fourth quarter. XTX Topco Ltd now owns 22,256 shares of the industrial products company’s stock valued at $693,000 after buying an additional 2,106 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th.

Ituran Location and Control Stock Down 0.4%

Shares of ITRN opened at $40.70 on Friday. The business has a 50-day simple moving average of $37.99 and a two-hundred day simple moving average of $36.47. Ituran Location and Control Ltd. has a 52 week low of $25.09 and a 52 week high of $45.43. The stock has a market cap of $809.69 million, a price-to-earnings ratio of 14.64 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%. The company had revenue of $86.46 million during the quarter, compared to analyst estimates of $88.47 million.

Ituran Location and Control Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 4.91%. Ituran Location and Control’s payout ratio is 71.94%.

Ituran Location and Control 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.