OppenheimerFunds Inc. lessened its holdings in National Instruments Corp (NASDAQ:NATI) by 13.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,801 shares of the technology company’s stock after selling 1,210 shares during the quarter. OppenheimerFunds Inc.’s holdings in National Instruments were worth $394,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stifel Financial Corp grew its holdings in National Instruments by 11.3% in the first quarter. Stifel Financial Corp now owns 32,405 shares of the technology company’s stock worth $1,640,000 after purchasing an additional 3,281 shares during the period. Russell Investments Group Ltd. grew its holdings in National Instruments by 37.1% in the first quarter. Russell Investments Group Ltd. now owns 57,612 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 15,579 shares during the period. Citigroup Inc. grew its holdings in National Instruments by 257.5% in the first quarter. Citigroup Inc. now owns 37,379 shares of the technology company’s stock worth $1,891,000 after purchasing an additional 26,922 shares during the period. Flinton Capital Management LLC grew its holdings in National Instruments by 80.8% in the first quarter. Flinton Capital Management LLC now owns 25,942 shares of the technology company’s stock worth $1,312,000 after purchasing an additional 11,594 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in National Instruments by 126.4% in the first quarter. JPMorgan Chase & Co. now owns 300,002 shares of the technology company’s stock worth $15,171,000 after purchasing an additional 167,518 shares during the period. Institutional investors and hedge funds own 77.48% of the company’s stock.
A number of brokerages have weighed in on NATI. Zacks Investment Research cut shares of National Instruments from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub cut shares of National Instruments from a “strong-buy” rating to a “buy” rating in a report on Tuesday. ValuEngine cut shares of National Instruments from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Finally, Robert W. Baird cut shares of National Instruments from an “outperform” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Monday, April 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.33.
In other news, Director James J. Truchard sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $39.86, for a total value of $697,550.00. Following the transaction, the director now owns 6,580,037 shares in the company, valued at $262,280,274.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerhard Paul Fettweis sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $42.11, for a total transaction of $33,688.00. Following the completion of the transaction, the director now owns 10,182 shares in the company, valued at approximately $428,764.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 373,372 shares of company stock worth $17,955,210. Insiders own 7.98% of the company’s stock.
Shares of NASDAQ NATI opened at $41.86 on Friday. The company has a market capitalization of $5.43 billion, a PE ratio of 41.39 and a beta of 0.98. National Instruments Corp has a 52-week low of $38.70 and a 52-week high of $53.57.
National Instruments (NASDAQ:NATI) last issued its earnings results on Thursday, April 26th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.07. The firm had revenue of $311.90 million for the quarter, compared to the consensus estimate of $322.77 million. National Instruments had a net margin of 4.50% and a return on equity of 11.50%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. research analysts forecast that National Instruments Corp will post 1.22 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 4th. Stockholders of record on Monday, May 14th were paid a $0.23 dividend. The ex-dividend date was Friday, May 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.20%. National Instruments’s dividend payout ratio is presently 97.87%.
About National Instruments
National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.
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