Retirement Systems of Alabama raised its position in National Instruments Corp (NASDAQ:NATI) by 87.3% in the 4th quarter, HoldingsChannel reports. The fund owned 258,628 shares of the technology company’s stock after acquiring an additional 120,563 shares during the quarter. Retirement Systems of Alabama’s holdings in National Instruments were worth $10,767,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zions Bancorporation acquired a new stake in National Instruments in the third quarter valued at approximately $129,000. JPMorgan Chase & Co. boosted its stake in National Instruments by 44.5% in the third quarter. JPMorgan Chase & Co. now owns 4,028 shares of the technology company’s stock valued at $169,000 after acquiring an additional 1,241 shares in the last quarter. Magnetar Financial LLC acquired a new stake in National Instruments in the third quarter valued at approximately $204,000. Jane Street Group LLC acquired a new stake in National Instruments in the third quarter valued at approximately $248,000. Finally, AMP Capital Investors Ltd acquired a new stake in National Instruments in the third quarter valued at approximately $261,000. Institutional investors own 78.60% of the company’s stock.
Shares of National Instruments Corp (NATI) opened at $49.49 on Monday. National Instruments Corp has a one year low of $31.39 and a one year high of $50.61. The company has a current ratio of 3.32, a quick ratio of 2.64 and a debt-to-equity ratio of 0.01. The company has a market cap of $6,470.57, a price-to-earnings ratio of 123.73 and a beta of 1.03.
National Instruments (NASDAQ:NATI) last posted its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. National Instruments had a net margin of 4.06% and a return on equity of 10.76%. The business had revenue of $349.80 million during the quarter, compared to the consensus estimate of $347.38 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. research analysts predict that National Instruments Corp will post 1.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.23 per share. This is an increase from National Instruments’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 9th. National Instruments’s payout ratio is presently 230.01%.
In related news, CEO Alexander M. Davern sold 11,925 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $50.31, for a total transaction of $599,946.75. Following the completion of the transaction, the chief executive officer now owns 114,938 shares of the company’s stock, valued at $5,782,530.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $44.30, for a total transaction of $88,600.00. Following the transaction, the director now directly owns 375,271 shares of the company’s stock, valued at approximately $16,624,505.30. The disclosure for this sale can be found here. Insiders have sold 73,371 shares of company stock valued at $3,296,370 over the last quarter. Insiders own 9.92% of the company’s stock.
Several equities research analysts have weighed in on NATI shares. Stifel Nicolaus restated a “buy” rating and issued a $46.00 target price on shares of National Instruments in a research note on Sunday, October 29th. BidaskClub downgraded shares of National Instruments from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 16th. Zacks Investment Research upgraded shares of National Instruments from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, December 28th. Finally, Robert W. Baird reiterated a “buy” rating on shares of National Instruments in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.67.
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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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