National Instruments Corporation (NASDAQ:NATI) Director James J. Truchard sold 985,162 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $43.66, for a total transaction of $43,012,172.92. Following the completion of the transaction, the director now owns 8,345,037 shares in the company, valued at $364,344,315.42. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of National Instruments Corporation (NASDAQ:NATI) traded down $0.29 during trading on Friday, hitting $44.70. 1,048,887 shares of the company traded hands, compared to its average volume of 602,161. The stock has a market capitalization of $5.84 billion, a PE ratio of 50.90 and a beta of 0.94. The company has a current ratio of 3.22, a quick ratio of 2.53 and a debt-to-equity ratio of 0.01. National Instruments Corporation has a 12-month low of $27.08 and a 12-month high of $46.33.
National Instruments Corporation (NASDAQ:NATI) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $320.90 million for the quarter, compared to analyst estimates of $319.78 million. National Instruments Corporation had a net margin of 8.72% and a return on equity of 10.16%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. analysts predict that National Instruments Corporation will post 0.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 13th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. National Instruments Corporation’s dividend payout ratio (DPR) is 103.70%.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in National Instruments Corporation by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 157,283 shares of the technology company’s stock worth $6,326,000 after acquiring an additional 2,772 shares during the last quarter. Clinton Group Inc. acquired a new position in National Instruments Corporation during the second quarter worth about $604,000. American Century Companies Inc. acquired a new position in National Instruments Corporation during the second quarter worth about $43,967,000. Comerica Bank boosted its position in National Instruments Corporation by 1.4% during the second quarter. Comerica Bank now owns 83,274 shares of the technology company’s stock worth $3,585,000 after acquiring an additional 1,176 shares during the last quarter. Finally, Northern Trust Corp raised its stake in National Instruments Corporation by 1.1% during the second quarter. Northern Trust Corp now owns 1,640,118 shares of the technology company’s stock worth $65,966,000 after purchasing an additional 17,988 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.
A number of equities analysts have recently issued reports on NATI shares. Stifel Nicolaus reiterated a “buy” rating and set a $46.00 price objective on shares of National Instruments Corporation in a research note on Sunday, July 30th. Zacks Investment Research cut shares of National Instruments Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Finally, BidaskClub cut shares of National Instruments Corporation from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.25.
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.
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