Neuberger Berman Group LLC cut its holdings in shares of National Instruments Co. (NASDAQ:NATI – Get Rating) by 2.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,457,323 shares of the technology company's stock after selling 43,857 shares during the period. Neuberger Berman Group LLC owned 1.11% of National Instruments worth $59,153,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of NATI. Meeder Asset Management Inc. bought a new position in shares of National Instruments in the 1st quarter worth $25,000. Van ECK Associates Corp purchased a new position in National Instruments in the first quarter valued at about $54,000. Versant Capital Management Inc bought a new position in National Instruments in the first quarter worth about $82,000. Hardy Reed LLC purchased a new stake in shares of National Instruments during the first quarter valued at about $116,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of National Instruments in the 1st quarter valued at about $145,000. Institutional investors own 83.25% of the company's stock.
Get National Instruments alerts:National Instruments Stock Up 1.6 %
NASDAQ:NATI opened at $39.35 on Monday. The company has a market cap of $5.16 billion, a PE ratio of 50.45 and a beta of 1.13. National Instruments Co. has a twelve month low of $29.81 and a twelve month high of $45.98. The company has a current ratio of 2.49, a quick ratio of 1.57 and a debt-to-equity ratio of 0.41. The company's 50 day moving average is $38.22 and its two-hundred day moving average is $36.85.
National Instruments (NASDAQ:NATI – Get Rating) last released its earnings results on Thursday, July 28th. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The company had revenue of $395.50 million for the quarter, compared to the consensus estimate of $388.98 million. National Instruments had a net margin of 6.71% and a return on equity of 15.63%. National Instruments's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. Analysts anticipate that National Instruments Co. will post 1.46 EPS for the current year.National Instruments Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 8th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.85%. National Instruments's payout ratio is currently 143.59%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on NATI shares. StockNews.com raised shares of National Instruments from a "hold" rating to a "buy" rating in a research report on Thursday. The Goldman Sachs Group cut their price objective on shares of National Instruments from $48.00 to $43.00 and set a "buy" rating on the stock in a research report on Wednesday, June 1st. Morgan Stanley lifted their price objective on shares of National Instruments from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on shares of National Instruments from $42.00 to $35.00 and set a "neutral" rating on the stock in a research report on Thursday, July 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.80.
Insider Activity
In other National Instruments news, CEO Eric Howard Starkloff sold 900 shares of the business's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $42.00, for a total value of $37,800.00. Following the completion of the transaction, the chief executive officer now directly owns 287,278 shares of the company's stock, valued at $12,065,676. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eric Howard Starkloff sold 900 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $42.00, for a total transaction of $37,800.00. Following the sale, the chief executive officer now directly owns 287,278 shares of the company's stock, valued at approximately $12,065,676. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jason Elliot Green sold 5,000 shares of National Instruments stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $41.46, for a total value of $207,300.00. Following the completion of the transaction, the executive vice president now owns 82,081 shares of the company's stock, valued at approximately $3,403,078.26. The disclosure for this sale can be found here. Insiders sold a total of 10,900 shares of company stock valued at $438,050 in the last quarter. 0.64% of the stock is currently owned by company insiders.
National Instruments Profile
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National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes NI LabVIEW, a graphical software platform to visualize hardware configuration, measurement data, and debugging of application; NI LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox; and NI Measurement Studio, a suite of .NET tools for building engineering applications in Microsoft Visual Studio.
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