National Instruments Corporation (NASDAQ:NATI) Stake Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in National Instruments Corporation (NASDAQ:NATI) by 21.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,845 shares of the technology company’s stock after buying an additional 858 shares during the period. JPMorgan Chase & Co.’s holdings in National Instruments Corporation were worth $158,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in National Instruments Corporation during the first quarter worth about $150,000. Dubuque Bank & Trust Co. bought a new stake in National Instruments Corporation during the first quarter worth about $163,000. Acadian Asset Management LLC boosted its stake in National Instruments Corporation by 1,847.0% in the first quarter. Acadian Asset Management LLC now owns 5,919 shares of the technology company’s stock worth $193,000 after buying an additional 5,615 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in National Instruments Corporation during the first quarter worth about $228,000. Finally, World Asset Management Inc bought a new stake in National Instruments Corporation during the first quarter worth about $236,000. Institutional investors own 78.90% of the company’s stock.

Shares of National Instruments Corporation (NASDAQ:NATI) opened at 38.96 on Friday. The firm has a 50-day moving average of $40.99 and a 200 day moving average of $36.20. National Instruments Corporation has a 52 week low of $26.74 and a 52 week high of $43.74. The firm has a market cap of $5.08 billion, a PE ratio of 52.72 and a beta of 0.94.

National Instruments Corporation (NASDAQ:NATI) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.08. The company had revenue of $318.61 million during the quarter, compared to analyst estimates of $321.07 million. National Instruments Corporation had a net margin of 8.11% and a return on equity of 9.81%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities research analysts predict that National Instruments Corporation will post $0.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, August 10th. National Instruments Corporation’s dividend payout ratio (DPR) is presently 107.69%.

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A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of National Instruments Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. BidaskClub cut shares of National Instruments Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Deutsche Bank AG assumed coverage on shares of National Instruments Corporation in a research note on Tuesday, May 16th. They set a “hold” rating and a $34.00 target price for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $46.00 target price on shares of National Instruments Corporation in a research note on Sunday, July 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.25.

In other National Instruments Corporation news, CEO Alexander M. Davern sold 9,914 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $38.52, for a total transaction of $381,887.28. Following the sale, the chief executive officer now directly owns 84,757 shares of the company’s stock, valued at $3,264,839.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey L. Kodosky sold 2,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $37.47, for a total transaction of $74,940.00. Following the sale, the director now directly owns 388,771 shares in the company, valued at $14,567,249.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,249 shares of company stock worth $3,592,155. Insiders own 9.92% of the company’s stock.

About National Instruments Corporation

National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.

Institutional Ownership by Quarter for National Instruments Corporation (NASDAQ:NATI)

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