ETRADE Capital Management LLC grew its holdings in National Instruments Corp (NASDAQ:NATI) by 15.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,812 shares of the technology company’s stock after purchasing an additional 2,540 shares during the quarter. ETRADE Capital Management LLC’s holdings in National Instruments were worth $783,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Zions Bancorporation purchased a new stake in shares of National Instruments during the 3rd quarter valued at approximately $129,000. JPMorgan Chase & Co. raised its position in shares of National Instruments by 44.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,028 shares of the technology company’s stock valued at $169,000 after buying an additional 1,241 shares during the period. Magnetar Financial LLC purchased a new stake in shares of National Instruments during the 3rd quarter valued at approximately $204,000. Jane Street Group LLC purchased a new stake in shares of National Instruments during the 3rd quarter valued at approximately $248,000. Finally, AMP Capital Investors Ltd purchased a new stake in shares of National Instruments during the 3rd quarter valued at approximately $261,000. 76.26% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Alexander M. Davern sold 11,925 shares of National Instruments stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $50.31, for a total value of $599,946.75. Following the completion of the sale, the chief executive officer now owns 114,938 shares in the company, valued at approximately $5,782,530.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Truchard sold 142,500 shares of National Instruments stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $50.85, for a total transaction of $7,246,125.00. Following the completion of the sale, the director now owns 7,535,037 shares of the company’s stock, valued at approximately $383,156,631.45. The disclosure for this sale can be found here. Insiders sold a total of 655,766 shares of company stock valued at $32,791,928 in the last quarter. 9.92% of the stock is owned by insiders.
National Instruments (NASDAQ:NATI) last posted its earnings results on Tuesday, January 30th. The technology company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. National Instruments had a net margin of 4.06% and a return on equity of 10.76%. The firm had revenue of $349.80 million during the quarter, compared to the consensus estimate of $347.38 million. During the same quarter last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. research analysts expect that National Instruments Corp will post 1.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Monday, February 12th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, February 9th. This is an increase from National Instruments’s previous quarterly dividend of $0.21. National Instruments’s dividend payout ratio (DPR) is 98.92%.
Several research firms have recently commented on NATI. BidaskClub raised shares of National Instruments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 3rd. ValuEngine raised shares of National Instruments from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of National Instruments from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Friday, February 2nd. Robert W. Baird reaffirmed a “buy” rating on shares of National Instruments in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus lifted their price target on shares of National Instruments from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. National Instruments currently has an average rating of “Buy” and a consensus price target of $46.67.
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National Instruments 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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