Legal & General Group Plc lifted its position in shares of National Instruments Corporation (NASDAQ:NATI) by 13.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,887 shares of the technology company’s stock after buying an additional 11,833 shares during the quarter. Legal & General Group Plc owned approximately 0.08% of National Instruments worth $4,170,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Great West Life Assurance Co. Can grew its holdings in National Instruments by 3.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 66,156 shares of the technology company’s stock valued at $2,779,000 after purchasing an additional 1,948 shares during the last quarter. ETRADE Capital Management LLC lifted its position in shares of National Instruments by 22.2% in the 3rd quarter. ETRADE Capital Management LLC now owns 16,272 shares of the technology company’s stock worth $686,000 after purchasing an additional 2,959 shares during the period. TD Asset Management Inc. lifted its position in shares of National Instruments by 47.5% in the 3rd quarter. TD Asset Management Inc. now owns 127,657 shares of the technology company’s stock worth $5,383,000 after purchasing an additional 41,100 shares during the period. American International Group Inc. lifted its position in shares of National Instruments by 0.6% in the 3rd quarter. American International Group Inc. now owns 218,908 shares of the technology company’s stock worth $9,231,000 after purchasing an additional 1,391 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of National Instruments by 15.5% in the 3rd quarter. Pacer Advisors Inc. now owns 15,726 shares of the technology company’s stock worth $663,000 after purchasing an additional 2,107 shares during the period. Institutional investors own 78.04% of the company’s stock.
A number of brokerages have issued reports on NATI. Zacks Investment Research upgraded shares of National Instruments from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, December 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $46.00 price objective on shares of National Instruments in a research note on Sunday, October 29th. Finally, BidaskClub upgraded shares of National Instruments from a “strong sell” rating to a “sell” rating in a research note on Friday, January 5th.
In related news, Director James J. Truchard sold 985,162 shares of National Instruments stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.66, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James J. Truchard sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was 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 of the company’s stock, valued at approximately $387,361,150.68. The disclosure for this sale can be found here. In the last three months, insiders sold 1,060,751 shares of company stock valued at $46,285,981. Insiders own 9.92% of the company’s stock.
National Instruments Corporation (NASDAQ:NATI) traded up $0.33 on Friday, reaching $44.31. 454,032 shares of the company’s stock traded hands, compared to its average volume of 486,933. The company has a current ratio of 3.22, a quick ratio of 2.53 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $5,750.00, a P/E ratio of 54.70 and a beta of 0.93. National Instruments Corporation has a fifty-two week low of $29.80 and a fifty-two week high of $46.33.
National Instruments (NASDAQ:NATI) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.25 earnings per share 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 firm had revenue of $320.90 million for the quarter, compared to the consensus estimate of $319.78 million. During the same period last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. sell-side analysts expect that National Instruments Corporation will post 0.93 earnings per share for the current fiscal year.
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National Instruments 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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