State Treasurer State of Michigan decreased its position in shares of National Instruments Corp (NASDAQ:NATI) by 17.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,175 shares of the technology company’s stock after selling 6,900 shares during the period. State Treasurer State of Michigan’s holdings in National Instruments were worth $1,393,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of National Instruments by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 762,742 shares of the technology company’s stock worth $34,611,000 after purchasing an additional 23,237 shares during the period. Geode Capital Management LLC grew its holdings in shares of National Instruments by 14.8% during the 4th quarter. Geode Capital Management LLC now owns 1,347,314 shares of the technology company’s stock worth $61,141,000 after purchasing an additional 173,357 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of National Instruments by 36.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 9,255 shares of the technology company’s stock worth $411,000 after purchasing an additional 2,458 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of National Instruments during the 1st quarter worth $231,000. Finally, Brookstone Capital Management purchased a new position in shares of National Instruments during the 1st quarter worth $500,000. 79.47% of the stock is currently owned by hedge funds and other institutional investors.
NATI opened at $43.87 on Wednesday. The business’s 50-day moving average price is $42.99. National Instruments Corp has a 12-month low of $38.01 and a 12-month high of $51.00. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 32.74 and a beta of 0.93.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, August 9th. National Instruments’s payout ratio is 74.63%.
A number of equities analysts have recently weighed in on NATI shares. Deutsche Bank cut National Instruments from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. BidaskClub upgraded National Instruments from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Zacks Investment Research cut National Instruments from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, ValuEngine lowered National Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. National Instruments currently has an average rating of “Hold” and a consensus price target of $49.33.
In other National Instruments news, Director Jeffrey L. Kodosky sold 2,000 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $45.03, for a total value of $90,060.00. Following the sale, the director now owns 346,410 shares of the company’s stock, valued at approximately $15,598,842.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Arthur Rust sold 3,027 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $40.88, for a total value of $123,743.76. Following the completion of the sale, the insider now directly owns 40,659 shares in the company, valued at approximately $1,662,139.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,027 shares of company stock worth $1,005,629. 1.79% of the stock is owned by corporate insiders.
About National Instruments
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.
Read More: Call Option
Want to see what other hedge funds are holding NATI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Instruments Corp (NASDAQ:NATI).
Receive News & Ratings for National Instruments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Instruments and related companies with MarketBeat.com's FREE daily email newsletter.