First Trust Advisors LP Has $3.56 Million Stake in National Instruments Corporation (NATI)
First Trust Advisors LP reduced its stake in National Instruments Corporation (NASDAQ:NATI) by 49.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,566 shares of the technology company’s stock after selling 88,317 shares during the period. First Trust Advisors LP owned approximately 0.07% of National Instruments Corporation worth $3,562,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of National Instruments Corporation by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 9,450,422 shares of the technology company’s stock valued at $307,706,000 after purchasing an additional 432,034 shares during the period. BlackRock Inc. grew its position in National Instruments Corporation by 7,809.7% during the 1st quarter. BlackRock Inc. now owns 9,143,655 shares of the technology company’s stock worth $297,718,000 after acquiring an additional 9,028,054 shares during the last quarter. Wellington Management Group LLP grew its position in National Instruments Corporation by 4.3% during the 1st quarter. Wellington Management Group LLP now owns 6,549,709 shares of the technology company’s stock worth $213,258,000 after acquiring an additional 267,706 shares during the last quarter. Findlay Park Partners LLP grew its position in National Instruments Corporation by 0.9% during the 1st quarter. Findlay Park Partners LLP now owns 4,769,035 shares of the technology company’s stock worth $155,280,000 after acquiring an additional 44,163 shares during the last quarter. Finally, Bares Capital Management Inc. grew its position in National Instruments Corporation by 15.1% during the 1st quarter. Bares Capital Management Inc. now owns 3,766,942 shares of the technology company’s stock worth $122,652,000 after acquiring an additional 493,095 shares during the last quarter. Institutional investors own 80.38% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded National Instruments Corporation from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, August 1st. BidaskClub lowered National Instruments Corporation from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Stifel Nicolaus restated a “buy” rating and set a $46.00 price target on shares of National Instruments Corporation in a research report on Sunday, July 30th. Finally, Deutsche Bank AG assumed coverage on National Instruments Corporation in a research report on Tuesday, May 16th. They set a “hold” rating and a $34.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.25.
In other National Instruments Corporation news, Director James J. Truchard sold 7,500 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $39.58, for a total value of $296,850.00. Following the sale, the director now directly owns 9,113,916 shares in the company, valued at approximately $360,728,795.28. The transaction was disclosed in a 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 that occurred on Monday, August 28th. The stock was sold at an average price of $39.54, for a total transaction of $79,080.00. Following the completion of the sale, the director now owns 381,771 shares in the company, valued at $15,095,225.34. The disclosure for this sale can be found here. Insiders sold a total of 63,000 shares of company stock worth $2,547,195 over the last quarter. Corporate insiders own 9.92% of the company’s stock.
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Shares of National Instruments Corporation (NASDAQ NATI) opened at 40.29 on Monday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 54.52 and a beta of 0.94. The company’s 50-day moving average price is $40.79 and its 200-day moving average price is $36.78. National Instruments Corporation has a 52-week low of $26.74 and a 52-week high of $43.74.
National Instruments Corporation (NASDAQ:NATI) last posted its earnings results on Thursday, July 27th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.08. National Instruments Corporation had a net margin of 8.11% and a return on equity of 9.81%. The business had revenue of $318.61 million for the quarter, compared to analysts’ expectations of $321.07 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts forecast that National Instruments Corporation will post $0.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 10th. National Instruments Corporation’s dividend payout ratio is presently 107.69%.
National Instruments Corporation 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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