National Instruments Corp (NASDAQ:NATI) declared a quarterly dividend on Thursday, October 25th, NASDAQ reports. Shareholders of record on Monday, November 12th will be paid a dividend of 0.23 per share by the technology company on Monday, December 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, November 8th.
National Instruments has raised its dividend by an average of 11.9% annually over the last three years and has raised its dividend every year for the last 4 years. National Instruments has a payout ratio of 76.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect National Instruments to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 59.4%.
Shares of NATI stock opened at $49.56 on Wednesday. National Instruments has a 52 week low of $38.78 and a 52 week high of $53.57. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 52.72 and a beta of 0.98.
National Instruments (NASDAQ:NATI) last issued its earnings results on Thursday, October 25th. The technology company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. National Instruments had a return on equity of 14.02% and a net margin of 5.50%. The company had revenue of $346.13 million during the quarter, compared to the consensus estimate of $342.65 million. Equities research analysts predict that National Instruments will post 1.35 EPS for the current year.
In other news, Director James J. Truchard sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $44.69, for a total transaction of $782,075.00. Following the completion of the transaction, the director now directly owns 6,152,537 shares in the company, valued at $274,956,878.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Eric Howard Starkloff sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $49.18, for a total value of $122,950.00. Following the transaction, the chief operating officer now owns 67,562 shares of the company’s stock, valued at $3,322,699.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 329,835 shares of company stock valued at $15,205,946. Insiders own 7.98% of the company’s stock.
A number of brokerages have commented on NATI. Deutsche Bank upgraded National Instruments from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $50.00 in a research note on Friday, October 26th. ValuEngine downgraded National Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research upgraded National Instruments from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Saturday, September 29th. Robert W. Baird decreased their target price on National Instruments from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Finally, BidaskClub upgraded National Instruments from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus 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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