Citigroup Inc. decreased its stake in National Instruments Corp (NASDAQ:NATI) by 56.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,010 shares of the technology company’s stock after selling 44,632 shares during the quarter. Citigroup Inc.’s holdings in National Instruments were worth $1,543,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in NATI. Alps Advisors Inc. raised its holdings in shares of National Instruments by 0.9% during the 4th quarter. Alps Advisors Inc. now owns 33,112 shares of the technology company’s stock valued at $1,503,000 after purchasing an additional 304 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of National Instruments by 19.0% during the 4th quarter. ETF Managers Group LLC now owns 2,626 shares of the technology company’s stock valued at $119,000 after purchasing an additional 420 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of National Instruments by 3.2% during the 4th quarter. Stephens Inc. AR now owns 16,748 shares of the technology company’s stock valued at $760,000 after purchasing an additional 515 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of National Instruments during the 4th quarter valued at $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of National Instruments by 9.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,903 shares of the technology company’s stock valued at $404,000 after purchasing an additional 793 shares in the last quarter. Institutional investors own 77.80% of the company’s stock.
In related news, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction on Monday, January 14th. The shares were sold at an average price of $47.10, for a total value of $94,200.00. Following the transaction, the director now directly owns 358,545 shares in the company, valued at approximately $16,887,469.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey L. Kodosky sold 1,600 shares of the firm’s stock in a transaction on Monday, December 24th. The shares were sold at an average price of $42.63, for a total transaction of $68,208.00. Following the completion of the transaction, the director now owns 360,045 shares in the company, valued at $15,348,718.35. The disclosure for this sale can be found here. Insiders sold a total of 23,700 shares of company stock worth $1,072,373 over the last quarter. 7.98% of the stock is currently owned by company insiders.
National Instruments (NASDAQ:NATI) last posted its earnings results on Tuesday, January 29th. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). National Instruments had a net margin of 11.41% and a return on equity of 15.11%. The firm had revenue of $360.10 million during the quarter, compared to analyst estimates of $380.05 million. On average, sell-side analysts forecast that National Instruments Corp will post 1.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 11th were paid a $0.25 dividend. The ex-dividend date was Friday, February 8th. This is a positive change from National Instruments’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. National Instruments’s dividend payout ratio (DPR) is presently 74.63%.
A number of research firms have recently weighed in on NATI. BidaskClub downgraded shares of National Instruments from a “sell” rating to a “strong sell” rating in a report on Saturday, March 9th. Zacks Investment Research downgraded shares of National Instruments from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, ValuEngine downgraded shares of National Instruments from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $48.50.
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National Instruments Company Profile
National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.
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