First Trust Advisors LP boosted its stake in National Instruments Co. (NASDAQ:NATI) by 299.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,158 shares of the technology company’s stock after buying an additional 124,533 shares during the period. First Trust Advisors LP’s holdings in National Instruments were worth $5,932,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. NEXT Financial Group Inc purchased a new stake in National Instruments in the 3rd quarter worth $143,000. Profund Advisors LLC purchased a new stake in National Instruments in the 2nd quarter worth $201,000. Pearl River Capital LLC increased its holdings in shares of National Instruments by 1,589.8% in the 2nd quarter. Pearl River Capital LLC now owns 5,306 shares of the technology company’s stock worth $205,000 after buying an additional 4,992 shares during the last quarter. Sciencast Management LP bought a new stake in shares of National Instruments in the 2nd quarter worth about $213,000. Finally, Hengehold Capital Management LLC bought a new stake in shares of National Instruments in the 2nd quarter worth about $217,000. Institutional investors and hedge funds own 84.60% of the company’s stock.
A number of analysts have recently weighed in on NATI shares. Royal Bank of Canada restated a “hold” rating and issued a $39.00 target price on shares of National Instruments in a report on Sunday, August 16th. JPMorgan Chase & Co. downgraded shares of National Instruments from a “neutral” rating to an “underweight” rating and set a $37.00 target price on the stock. in a report on Thursday, October 8th. 140166 restated a “hold” rating and issued a $35.00 target price on shares of National Instruments in a report on Tuesday, August 4th. Zacks Investment Research upgraded shares of National Instruments from a “sell” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, The Goldman Sachs Group assumed coverage on shares of National Instruments in a report on Thursday, August 13th. They set a “neutral” rating and a $38.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.57.
Shares of NATI stock opened at $36.05 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.38 and a quick ratio of 1.75. The company has a market capitalization of $4.73 billion, a P/E ratio of 24.03 and a beta of 1.00. The company’s 50-day simple moving average is $34.94 and its two-hundred day simple moving average is $36.62. National Instruments Co. has a one year low of $20.42 and a one year high of $47.89.
National Instruments (NASDAQ:NATI) last issued its earnings results on Thursday, October 29th. The technology company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.13). The company had revenue of $308.12 million during the quarter, compared to the consensus estimate of $305.05 million. National Instruments had a return on equity of 10.01% and a net margin of 15.35%. National Instruments’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, research analysts expect that National Instruments Co. will post 0.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Monday, November 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.04 dividend on an annualized basis and a yield of 2.88%. National Instruments’s dividend payout ratio is currently 79.39%.
National Instruments Company Profile
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 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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