Blair William & Co. IL grew its stake in shares of National Instruments Corp (NASDAQ:NATI) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,437 shares of the technology company’s stock after purchasing an additional 3,468 shares during the quarter. Blair William & Co. IL’s holdings in National Instruments were worth $1,229,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in shares of National Instruments during the second quarter worth about $147,000. Trexquant Investment LP acquired a new position in shares of National Instruments during the third quarter worth about $200,000. Mission Wealth Management LP acquired a new position in shares of National Instruments during the third quarter worth about $213,000. D.A. Davidson & CO. acquired a new position in shares of National Instruments during the third quarter worth about $221,000. Finally, CIBC Asset Management Inc acquired a new position in shares of National Instruments during the third quarter worth about $223,000. Institutional investors own 77.06% of the company’s stock.
In other news, Director Jeffrey L. Kodosky sold 1,600 shares of National Instruments stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $48.50, for a total transaction of $77,600.00. Following the sale, the director now directly owns 364,545 shares of the company’s stock, valued at $17,680,432.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott Arthur Rust sold 4,576 shares of National Instruments stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $48.54, for a total value of $222,119.04. Following the sale, the insider now directly owns 32,169 shares in the company, valued at $1,561,483.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,355 shares of company stock worth $3,244,672. Corporate insiders own 7.98% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research cut National Instruments from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 22nd. BidaskClub cut National Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Stifel Nicolaus assumed coverage on National Instruments in a research note on Monday, October 22nd. They set a “hold” rating and a $48.00 price objective on the stock. Finally, Deutsche Bank upgraded National Instruments from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $50.00 in a research note on Friday, October 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. National Instruments presently has an average rating of “Hold” and a consensus target price of $50.25.
Shares of NATI opened at $47.00 on Friday. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 50.00 and a beta of 0.95. National Instruments Corp has a 12 month low of $38.78 and a 12 month high of $53.57.
National Instruments (NASDAQ:NATI) last announced its earnings results on Thursday, October 25th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. National Instruments had a return on equity of 14.02% and a net margin of 5.50%. The business had revenue of $346.13 million for the quarter, compared to analyst estimates of $342.65 million. Sell-side analysts expect that National Instruments Corp will post 1.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 12th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, November 8th. National Instruments’s payout ratio is 97.87%.
National Instruments Profile
National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.
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