National Instruments Corporation (NATI) Shares Bought by Legal & General Group Plc
Legal & General Group Plc grew its position in National Instruments Corporation (NASDAQ:NATI) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,887 shares of the technology company’s stock after acquiring an additional 11,833 shares during the quarter. Legal & General Group Plc owned approximately 0.08% of National Instruments worth $4,170,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of National Instruments 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 acquiring an additional 2,772 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of National Instruments in the 2nd quarter valued at approximately $604,000. American Century Companies Inc. bought a new stake in shares of National Instruments in the 2nd quarter valued at approximately $43,967,000. Comerica Bank increased its holdings in shares of National Instruments 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 acquiring an additional 1,176 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of National Instruments in the 2nd quarter valued at approximately $2,652,000. Institutional investors and hedge funds own 78.04% of the company’s stock.
NATI has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating on shares of National Instruments in a report on Tuesday, September 26th. Zacks Investment Research downgraded National Instruments from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. Finally, BidaskClub downgraded National Instruments from a “sell” rating to a “strong sell” rating in a report on Saturday, December 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $40.25.
National Instruments (NASDAQ:NATI) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. The firm had revenue of $320.90 million during the quarter, compared to the consensus estimate of $319.78 million. National Instruments had a return on equity of 10.16% and a net margin of 8.72%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. analysts anticipate that National Instruments Corporation will post 0.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 13th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.00%. National Instruments’s payout ratio is currently 100.00%.
In related news, Director James J. Truchard sold 7,500 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $44.61, for a total transaction of $334,575.00. Following the completion of the transaction, the director now directly owns 8,800,166 shares in the company, valued at approximately $392,575,405.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey L. Kodosky sold 2,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $42.36, for a total value of $84,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,061,151 shares of company stock valued at $46,306,744. 9.92% of the stock is owned by company insiders.
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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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