Jennison Associates LLC cut its position in National Instruments Corporation (NASDAQ:NATI) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 772,301 shares of the technology company’s stock after selling 28,841 shares during the period. Jennison Associates LLC owned 0.59% of National Instruments Corporation worth $32,568,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in shares of National Instruments Corporation by 1.8% in the 2nd 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 during the last quarter. Clinton Group Inc. purchased a new position in shares of National Instruments Corporation in the 2nd quarter valued at $604,000. American Century Companies Inc. purchased a new position in shares of National Instruments Corporation in the 2nd quarter valued at $43,967,000. Comerica Bank grew its position in shares of National Instruments Corporation by 1.4% in the 2nd 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 during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of National Instruments Corporation in the 2nd quarter valued at $2,652,000. 78.71% of the stock is currently owned by institutional investors.
Shares of National Instruments Corporation (NASDAQ:NATI) opened at $44.34 on Thursday. National Instruments Corporation has a 52 week low of $29.44 and a 52 week high of $46.33. The company has a market cap of $5,802.46, a price-to-earnings ratio of 50.43 and a beta of 0.94. The company has a quick ratio of 2.53, a current ratio of 3.22 and a debt-to-equity ratio of 0.01.
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 the Thomson Reuters’ consensus estimate 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 company had revenue of $320.90 million during the quarter, compared to analysts’ expectations of $319.78 million. During the same quarter last year, the business earned $0.25 EPS. The business’s revenue was up 4.7% on a year-over-year basis. equities research analysts expect that National Instruments Corporation will post 0.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, November 10th. National Instruments Corporation’s dividend payout ratio (DPR) is presently 100.00%.
In other news, Director James J. Truchard sold 7,500 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $40.08, for a total value of $300,600.00. Following the completion of the transaction, the director now owns 9,023,916 shares in the company, valued at approximately $361,678,553.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey L. Kodosky sold 2,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $44.58, for a total transaction of $89,160.00. The disclosure for this sale can be found here. Insiders sold a total of 1,049,662 shares of company stock valued at $45,752,688 in the last 90 days. Company insiders own 9.92% of the company’s stock.
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A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of National Instruments Corporation 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 Corporation in a research report on Tuesday, September 26th. Finally, BidaskClub cut shares of National Instruments Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price 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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