Parkside Financial Bank & Trust cut its stake in National Instruments Corporation (NASDAQ:NATI) by 38.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,443 shares of the technology company’s stock after selling 1,538 shares during the period. Parkside Financial Bank & Trust’s holdings in National Instruments Corporation were worth $103,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in National Instruments Corporation by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 157,283 shares of the technology company’s stock valued at $6,326,000 after buying an additional 2,772 shares in the last quarter. Clinton Group Inc. purchased a new position in National Instruments Corporation in the second quarter valued at about $604,000. American Century Companies Inc. purchased a new position in National Instruments Corporation in the second quarter valued at about $43,967,000. Comerica Bank increased its holdings in National Instruments Corporation by 1.4% in the second quarter. Comerica Bank now owns 83,274 shares of the technology company’s stock valued at $3,585,000 after buying an additional 1,176 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in National Instruments Corporation by 1.1% in the second quarter. Northern Trust Corp now owns 1,640,118 shares of the technology company’s stock valued at $65,966,000 after buying an additional 17,988 shares in the last quarter. 80.60% of the stock is owned by institutional investors.
A number of brokerages have issued reports on NATI. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 target price on shares of National Instruments Corporation in a report on Sunday. Zacks Investment Research cut shares of National Instruments Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, BidaskClub cut shares of National Instruments Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. National Instruments Corporation currently has an average rating of “Hold” and a consensus price target of $40.25.
National Instruments Corporation (NASDAQ:NATI) traded up 0.02% during mid-day trading on Tuesday, hitting $45.06. 117,754 shares of the stock traded hands. National Instruments Corporation has a 12-month low of $27.08 and a 12-month high of $46.33. The firm has a market cap of $5.88 billion, a PE ratio of 60.97 and a beta of 0.96. The stock has a 50 day moving average price of $42.80 and a 200 day moving average price of $39.81.
National Instruments Corporation (NASDAQ:NATI) last released its earnings results on Thursday, October 26th. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. National Instruments Corporation had a net margin of 8.72% and a return on equity of 10.16%. The business had revenue of $320.90 million for the quarter, compared to the consensus estimate of $319.78 million. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that National Instruments Corporation will post $0.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 13th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.86%. National Instruments Corporation’s payout ratio is currently 100.00%.
In other news, Director Jeffrey L. Kodosky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $42.36, for a total transaction of $84,720.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James J. Truchard sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $43.98, for a total transaction of $329,850.00. Following the sale, the director now owns 8,807,666 shares in the company, valued at approximately $387,361,150.68. The disclosure for this sale can be found here. Insiders sold a total of 62,500 shares of company stock worth $2,610,835 over the last quarter. Insiders own 9.92% of the company’s stock.
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National Instruments Corporation Company Profile
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.
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