Bell Bank lessened its stake in National Instruments Corporation (NASDAQ:NATI) by 37.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,515 shares of the technology company’s stock after selling 7,006 shares during the quarter. Bell Bank’s holdings in National Instruments were worth $486,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. acquired a new position in National Instruments in the 2nd quarter valued at approximately $139,000. JPMorgan Chase & Co. increased its stake in shares of National Instruments by 44.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,028 shares of the technology company’s stock worth $169,000 after purchasing an additional 1,241 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of National Instruments by 6.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,058 shares of the technology company’s stock worth $163,000 after purchasing an additional 241 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of National Instruments during the 2nd quarter worth $218,000. Finally, Brookstone Capital Management acquired a new position in shares of National Instruments during the 2nd quarter worth $297,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.
In related news, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $45.19, for a total value of $90,380.00. Following the transaction, the director now directly owns 8,337,537 shares in the company, valued at approximately $376,773,297.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Truchard sold 7,500 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $44.44, for a total transaction of $333,300.00. Following the completion of the transaction, the director now owns 375,771 shares in the company, valued at $16,699,263.24. The disclosure for this sale can be found here. Insiders sold a total of 1,053,651 shares of company stock worth $45,960,244 over the last quarter. 9.92% of the stock is currently owned by company insiders.
National Instruments (NASDAQ:NATI) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. National Instruments had a net margin of 8.72% and a return on equity of 10.16%. The company had revenue of $320.90 million for the quarter, compared to analyst estimates of $319.78 million. During the same quarter in the prior year, the business posted $0.25 EPS. National Instruments’s quarterly revenue was up 4.7% on a year-over-year basis. research analysts forecast that National Instruments Corporation will post 0.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 13th were paid a $0.21 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.84 dividend on an annualized basis and a yield of 1.98%. National Instruments’s payout ratio is presently 100.00%.
NATI has been the topic of several analyst reports. Zacks Investment Research lowered shares of National Instruments from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Stifel Nicolaus restated a “buy” rating and set a $46.00 price target on shares of National Instruments in a research note on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $40.25.
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National Instruments 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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