Northern Trust Corp Sells 6,494 Shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN)

Northern Trust Corp reduced its holdings in shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,539 shares of the industrial products company’s stock after selling 6,494 shares during the period. Northern Trust Corp owned about 0.15% of Ituran Location and Control Ltd. (US) worth $956,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Analyst IMS Investment Management Services Ltd. boosted its position in shares of Ituran Location and Control Ltd. (US) by 6.1% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 656,662 shares of the industrial products company’s stock worth $20,553,000 after acquiring an additional 37,877 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Ituran Location and Control Ltd. (US) during the second quarter valued at $863,000. Rice Hall James & Associates LLC raised its stake in Ituran Location and Control Ltd. (US) by 23.0% during the second quarter. Rice Hall James & Associates LLC now owns 134,755 shares of the industrial products company’s stock valued at $4,218,000 after purchasing an additional 25,194 shares in the last quarter. Sei Investments Co. purchased a new stake in Ituran Location and Control Ltd. (US) during the second quarter valued at $754,000. Finally, Sphera Funds Management LTD. raised its stake in Ituran Location and Control Ltd. (US) by 8.2% during the second quarter. Sphera Funds Management LTD. now owns 304,421 shares of the industrial products company’s stock valued at $9,528,000 after purchasing an additional 23,065 shares in the last quarter. 51.63% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Ltd. (ITRN) traded down $0.10 during mid-day trading on Friday, reaching $34.20. 15,472 shares of the company were exchanged, compared to its average volume of 42,911. Ituran Location and Control Ltd. has a one year low of $26.15 and a one year high of $38.00. The firm has a market cap of $717.11, a PE ratio of 17.54 and a beta of 0.82.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 27th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, December 26th. Ituran Location and Control Ltd. (US)’s dividend payout ratio is presently 49.23%.

Several equities research analysts have recently weighed in on ITRN shares. Zacks Investment Research downgraded shares of Ituran Location and Control Ltd. (US) from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Telsey Advisory Group downgraded shares of Ituran Location and Control Ltd. (US) from an “outperform” rating to a “market perform” rating and set a $36.00 target price on the stock. in a research note on Friday, November 17th. Chardan Capital cut shares of Ituran Location and Control Ltd. (US) from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a report on Friday, November 17th. Finally, BidaskClub upgraded shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a report on Friday, December 22nd.

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Ituran Location and Control Ltd. (US) Company Profile

Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications.

Institutional Ownership by Quarter for Ituran Location and Control Ltd. (US) (NASDAQ:ITRN)

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