Daiwa Securities Group Inc. cut its stake in shares of National Instruments Corp (NASDAQ:NATI) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,795 shares of the technology company’s stock after selling 17,796 shares during the period. Daiwa Securities Group Inc. owned 0.06% of National Instruments worth $3,584,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in National Instruments by 662.6% in the first quarter. Bank of Montreal Can now owns 141,907 shares of the technology company’s stock worth $6,296,000 after buying an additional 123,299 shares in the last quarter. Coastline Trust Co boosted its stake in National Instruments by 1.0% in the first quarter. Coastline Trust Co now owns 61,325 shares of the technology company’s stock worth $2,720,000 after buying an additional 595 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in National Instruments by 60.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 289,524 shares of the technology company’s stock worth $12,843,000 after buying an additional 109,366 shares in the last quarter. Brand Asset Management Group Inc. purchased a new stake in National Instruments in the first quarter worth approximately $528,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in National Instruments by 3.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 132,244 shares of the technology company’s stock worth $5,866,000 after buying an additional 4,029 shares in the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.
Shares of NASDAQ:NATI traded up $0.10 during trading on Wednesday, reaching $40.02. 402,075 shares of the company traded hands, compared to its average volume of 636,570. The firm has a market cap of $5.30 billion, a PE ratio of 29.87 and a beta of 0.80. National Instruments Corp has a 52-week low of $39.39 and a 52-week high of $51.00.
National Instruments (NASDAQ:NATI) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $311.07 million for the quarter, compared to analysts’ expectations of $321.25 million. National Instruments had a net margin of 11.34% and a return on equity of 15.19%. As a group, equities research analysts forecast that National Instruments Corp will post 1.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. National Instruments’s dividend payout ratio is presently 74.63%.
A number of analysts have recently weighed in on NATI shares. Deutsche Bank lowered National Instruments from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised National Instruments from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. BidaskClub lowered National Instruments from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 9th. Finally, ValuEngine lowered National Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $48.50.
In related news, insider Scott Arthur Rust sold 3,027 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $40.88, for a total transaction of $123,743.76. Following the completion of the transaction, the insider now owns 40,659 shares in the company, valued at $1,662,139.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey L. Kodosky sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $41.00, for a total value of $82,000.00. Following the transaction, the director now owns 351,910 shares of the company’s stock, valued at approximately $14,428,310. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,027 shares of company stock valued at $1,025,654. 1.79% of the stock is owned by corporate insiders.
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National Instruments 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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