Zacks Investment Research cut shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) from a buy rating to a hold rating in a report issued on Thursday.

According to Zacks, “Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security, and radio frequency identification products for various purposes including automatic meter reading, electronic toll collection and homeland security applications. “

Separately, BidaskClub lowered shares of Ituran Location and Control from a hold rating to a sell rating in a report on Thursday, July 27th.

Ituran Location and Control (ITRN) opened at 33.60 on Thursday. The firm has a market cap of $704.52 million, a price-to-earnings ratio of 17.28 and a beta of 0.80. Ituran Location and Control has a 12 month low of $23.95 and a 12 month high of $36.95. The firm’s 50 day moving average is $31.30 and its 200-day moving average is $30.66.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, August 16th. The industrial products company reported $0.50 EPS for the quarter. Ituran Location and Control had a net margin of 18.67% and a return on equity of 36.12%. The company had revenue of $58.53 million for the quarter. On average, equities analysts forecast that Ituran Location and Control will post $1.74 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Monday, September 18th. Ituran Location and Control’s dividend payout ratio (DPR) is currently 49.23%.

A number of large investors have recently made changes to their positions in ITRN. State Street Corp raised its stake in shares of Ituran Location and Control by 4.3% in the second quarter. State Street Corp now owns 122,647 shares of the industrial products company’s stock worth $3,840,000 after buying an additional 5,008 shares during the period. ETF Managers Group LLC bought a new stake in shares of Ituran Location and Control during the second quarter worth about $228,000. Royal Bank of Canada raised its stake in shares of Ituran Location and Control by 33.9% in the second quarter. Royal Bank of Canada now owns 11,031 shares of the industrial products company’s stock worth $345,000 after buying an additional 2,795 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Ituran Location and Control during the second quarter worth about $1,085,000. Finally, PDT Partners LLC bought a new stake in shares of Ituran Location and Control during the second quarter worth about $354,000. 51.75% of the stock is owned by institutional investors and hedge funds.

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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