Jeffrey L. Kodosky Sells 2,000 Shares of National Instruments Corporation (NATI) Stock
National Instruments Corporation (NASDAQ:NATI) Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $39.54, for a total transaction of $79,080.00. Following the transaction, the director now directly owns 381,771 shares in the company, valued at approximately $15,095,225.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of National Instruments Corporation (NASDAQ:NATI) opened at 40.39 on Friday. The stock has a 50 day moving average of $40.82 and a 200-day moving average of $36.72. National Instruments Corporation has a 12-month low of $26.74 and a 12-month high of $43.74. The company has a market capitalization of $5.27 billion, a PE ratio of 54.65 and a beta of 0.94.
National Instruments Corporation (NASDAQ:NATI) last released its earnings results on Thursday, July 27th. The technology company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. National Instruments Corporation had a net margin of 8.11% and a return on equity of 9.81%. The firm had revenue of $318.61 million for the quarter, compared to analyst estimates of $321.07 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts predict that National Instruments Corporation will post $0.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.08%. National Instruments Corporation’s payout ratio is 107.69%.
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Several hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in National Instruments Corporation by 27.3% in the fourth quarter. Teachers Advisors LLC now owns 120,038 shares of the technology company’s stock worth $3,700,000 after buying an additional 25,722 shares during the last quarter. Capstone Asset Management Co. raised its stake in National Instruments Corporation by 0.6% in the first quarter. Capstone Asset Management Co. now owns 8,398 shares of the technology company’s stock worth $273,000 after buying an additional 50 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in National Instruments Corporation by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the technology company’s stock worth $873,000 after buying an additional 700 shares during the last quarter. Retirement Systems of Alabama raised its stake in National Instruments Corporation by 0.4% in the first quarter. Retirement Systems of Alabama now owns 137,123 shares of the technology company’s stock worth $4,465,000 after buying an additional 610 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in National Instruments Corporation by 1,847.0% in the first quarter. Acadian Asset Management LLC now owns 5,919 shares of the technology company’s stock worth $193,000 after buying an additional 5,615 shares during the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.
A number of research analysts have commented on the stock. BidaskClub downgraded shares of National Instruments Corporation from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Zacks Investment Research cut shares of National Instruments Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus restated a “buy” rating and issued a $46.00 price target on shares of National Instruments Corporation in a report on Sunday, July 30th. Finally, Deutsche Bank AG assumed coverage on shares of National Instruments Corporation in a report on Tuesday, May 16th. They issued a “hold” rating and a $34.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. National Instruments Corporation presently has an average rating of “Hold” and an average target price of $40.25.
About National Instruments Corporation
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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