First Trust Advisors LP raised its holdings in shares of National Instruments Co. (NASDAQ:NATI) by 480.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 513,720 shares of the technology company’s stock after purchasing an additional 425,154 shares during the period. First Trust Advisors LP owned 0.39% of National Instruments worth $21,664,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC acquired a new stake in National Instruments in the 2nd quarter worth approximately $423,984,000. Vanguard Group Inc. increased its holdings in shares of National Instruments by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 9,588,543 shares of the technology company’s stock valued at $385,651,000 after purchasing an additional 138,121 shares in the last quarter. BlackRock Inc. increased its holdings in shares of National Instruments by 7,809.7% during the 1st quarter. BlackRock Inc. now owns 9,143,655 shares of the technology company’s stock valued at $297,718,000 after purchasing an additional 9,028,054 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in National Instruments in the 2nd quarter worth $115,152,000. Finally, State Street Corp increased its holdings in National Instruments by 0.4% in the 2nd quarter. State Street Corp now owns 2,822,005 shares of the technology company’s stock worth $113,497,000 after acquiring an additional 10,737 shares in the last quarter. 78.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of National Instruments Co. (NATI) opened at $44.91 on Monday. National Instruments Co. has a fifty-two week low of $28.36 and a fifty-two week high of $46.33. The company has a market capitalization of $5,871.76, a price-to-earnings ratio of 51.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.22 and a quick ratio of 2.53.
National Instruments (NASDAQ:NATI) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $320.90 million for the quarter, compared to analyst estimates of $319.78 million. National Instruments had a return on equity of 10.16% and a net margin of 8.72%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. equities research analysts expect that National Instruments Co. will post 0.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 10th. This represents a $0.84 annualized dividend and a yield of 1.87%. National Instruments’s dividend payout ratio is presently 100.00%.
In related news, Director James J. Truchard sold 985,162 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 8,345,037 shares of the company’s stock, valued at $364,344,315.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James J. Truchard sold 7,500 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.08, for a total value of $300,600.00. Following the sale, the director now owns 9,023,916 shares of the company’s stock, valued at approximately $361,678,553.28. The disclosure for this sale can be found here. Insiders sold a total of 1,047,662 shares of company stock valued at $45,663,528 over the last quarter. Company insiders own 9.92% of the company’s stock.
Several brokerages have recently weighed in on NATI. Zacks Investment Research cut shares of National Instruments from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating on shares of National Instruments in a research report on Tuesday, September 26th. Finally, BidaskClub lowered shares of National Instruments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. National Instruments has a consensus rating of “Hold” and an average price target of $40.25.
About National Instruments
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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