Ituran Location and Control Ltd. (ITRN) Cut to Neutral at Chardan Capital

Chardan Capital cut shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) from a buy rating to a neutral rating in a research note released on Friday, Marketbeat Ratings reports. They currently have $36.00 price target on the industrial products company’s stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Ituran Location and Control from a buy rating to a hold rating in a research report on Wednesday, October 18th. BidaskClub upgraded shares of Ituran Location and Control from a strong sell rating to a sell rating in a research report on Thursday, August 17th.

Ituran Location and Control (NASDAQ:ITRN) opened at $35.95 on Friday. Ituran Location and Control has a 1 year low of $24.10 and a 1 year high of $38.00. The firm has a market cap of $753.80, a price-to-earnings ratio of 17.45 and a beta of 0.83.

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The company also recently disclosed 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 2.67%. The ex-dividend date of this dividend is Tuesday, December 26th. Ituran Location and Control’s dividend payout ratio (DPR) is 46.60%.

A number of hedge funds have recently bought and sold shares of ITRN. Wells Fargo & Company MN increased its position in Ituran Location and Control by 30.8% during the second quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 1,078 shares during the last quarter. New York State Common Retirement Fund increased its position in Ituran Location and Control by 47.8% during the second quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 2,263 shares during the last quarter. ETF Managers Group LLC bought a new position in Ituran Location and Control during the second quarter valued at $228,000. Covey Capital Advisors LLC bought a new position in Ituran Location and Control during the second quarter valued at $252,000. Finally, California Public Employees Retirement System bought a new position in Ituran Location and Control during the second quarter valued at $344,000. Institutional investors and hedge funds own 51.78% of the company’s stock.

Ituran Location and Control 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.

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