Los Angeles Capital Management & Equity Research Inc. Buys Shares of 1,171,825 National Instruments Corp (NATI)

Los Angeles Capital Management & Equity Research Inc. bought a new position in National Instruments Corp (NASDAQ:NATI) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 1,171,825 shares of the technology company’s stock, valued at approximately $56,634,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NATI. First Trust Advisors LP lifted its stake in National Instruments by 1,697.8% in the 2nd quarter. First Trust Advisors LP now owns 402,697 shares of the technology company’s stock worth $16,905,000 after purchasing an additional 380,297 shares in the last quarter. BlackRock Inc. lifted its stake in National Instruments by 3.7% in the 2nd quarter. BlackRock Inc. now owns 9,363,243 shares of the technology company’s stock worth $393,067,000 after purchasing an additional 335,811 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in National Instruments by 89.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 705,500 shares of the technology company’s stock worth $29,617,000 after purchasing an additional 333,500 shares in the last quarter. Janus Henderson Group PLC lifted its stake in National Instruments by 1.9% in the 2nd quarter. Janus Henderson Group PLC now owns 11,486,408 shares of the technology company’s stock worth $482,199,000 after purchasing an additional 210,830 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in National Instruments by 52.2% in the 1st quarter. Allianz Asset Management GmbH now owns 465,826 shares of the technology company’s stock worth $23,556,000 after purchasing an additional 159,821 shares in the last quarter. Institutional investors and hedge funds own 76.83% of the company’s stock.

National Instruments stock opened at $49.24 on Tuesday. The firm has a market cap of $6.58 billion, a PE ratio of 52.38 and a beta of 0.98. National Instruments Corp has a fifty-two week low of $38.78 and a fifty-two week high of $53.57.

National Instruments (NASDAQ:NATI) last posted its quarterly earnings data on Thursday, October 25th. The technology company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $346.13 million for the quarter, compared to analysts’ expectations of $342.65 million. National Instruments had a net margin of 5.50% and a return on equity of 14.02%. As a group, sell-side analysts expect that National Instruments Corp will post 1.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, November 8th. National Instruments’s dividend payout ratio (DPR) is currently 97.87%.

In related news, insider John Charles Roiko sold 1,388 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $47.33, for a total transaction of $65,694.04. Following the transaction, the insider now owns 19,385 shares of the company’s stock, valued at approximately $917,492.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James J. Truchard sold 100,000 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $45.21, for a total transaction of $4,521,000.00. Following the transaction, the director now directly owns 6,020,037 shares in the company, valued at approximately $272,165,872.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 328,235 shares of company stock worth $15,127,338. Corporate insiders own 7.98% of the company’s stock.

Several analysts have issued reports on NATI shares. Zacks Investment Research upgraded shares of National Instruments from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Saturday, September 29th. BidaskClub upgraded shares of National Instruments from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Robert W. Baird lowered their price objective on shares of National Instruments from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, July 30th. Deutsche Bank upgraded shares of National Instruments from a “hold” rating to a “buy” rating and raised their price objective for the company from $45.00 to $50.00 in a research report on Friday, October 26th. Finally, TheStreet upgraded shares of National Instruments from a “c+” rating to a “b” rating in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $50.25.

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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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Institutional Ownership by Quarter for National Instruments (NASDAQ:NATI)

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