Pekin Hardy Strauss Inc. Sells 1,117 Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN)

Pekin Hardy Strauss Inc. cut its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 253,992 shares of the industrial products company’s stock after selling 1,117 shares during the period. Ituran Location and Control comprises about 0.9% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 26th largest position. Pekin Hardy Strauss Inc. owned 1.28% of Ituran Location and Control worth $6,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ITRN. Blair William & Co. IL purchased a new stake in shares of Ituran Location and Control in the 1st quarter worth $203,000. Caprock Group LLC bought a new stake in shares of Ituran Location and Control in the second quarter valued at about $226,000. Assenagon Asset Management S.A. purchased a new stake in Ituran Location and Control in the first quarter worth about $277,000. Heron Bay Capital Management grew its holdings in Ituran Location and Control by 18.3% during the 1st quarter. Heron Bay Capital Management now owns 9,982 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 1,541 shares in the last quarter. Finally, DGS Capital Management LLC purchased a new position in Ituran Location and Control during the 1st quarter valued at about $340,000. 94.80% of the stock is currently owned by institutional investors.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $27.46 on Tuesday. The firm has a 50-day simple moving average of $26.85 and a 200-day simple moving average of $26.71. Ituran Location and Control Ltd. has a one year low of $24.01 and a one year high of $30.10. The firm has a market cap of $546.29 million, a P/E ratio of 10.98 and a beta of 1.15.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Monday, August 19th. The industrial products company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $84.87 million during the quarter. Ituran Location and Control had a net margin of 15.42% and a return on equity of 28.43%.

Ituran Location and Control Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Thursday, September 26th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date is Thursday, September 26th. Ituran Location and Control’s payout ratio is currently 62.40%.

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.