National Instruments Co. (NASDAQ:NATI) EVP Ritu Favre Sells 3,494 Shares of Stock

Posted by Donald Scott on May 26th, 2023

National Instruments Co. (NASDAQ:NATI – Get Rating) EVP Ritu Favre sold 3,494 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $57.70, for a total value of $201,603.80. Following the completion of the sale, the executive vice president now owns 39,237 shares of the company’s stock, valued at $2,263,974.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

National Instruments Price Performance

National Instruments stock opened at $58.00 on Friday. National Instruments Co. has a 52 week low of $29.81 and a 52 week high of $58.30. The company’s 50 day moving average price is $55.84 and its two-hundred day moving average price is $48.87. The company has a quick ratio of 1.29, a current ratio of 2.06 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.63 billion, a P/E ratio of 47.79 and a beta of 1.20.

National Instruments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Tuesday, May 9th will be issued a $0.28 dividend. The ex-dividend date is Monday, May 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.93%. National Instruments’s dividend payout ratio (DPR) is presently 92.56%.

Institutional Investors Weigh In On National Instruments

Hedge funds have recently modified their holdings of the stock. Ieq Capital LLC raised its holdings in shares of National Instruments by 59.9% in the 3rd quarter. Ieq Capital LLC now owns 10,640 shares of the technology company’s stock worth $402,000 after purchasing an additional 3,986 shares during the period. KLCM Advisors Inc. raised its holdings in shares of National Instruments by 1.1% in the 3rd quarter. KLCM Advisors Inc. now owns 193,910 shares of the technology company’s stock worth $7,318,000 after purchasing an additional 2,200 shares during the period. BlackRock Inc. raised its holdings in shares of National Instruments by 0.3% in the 3rd quarter. BlackRock Inc. now owns 11,340,461 shares of the technology company’s stock worth $427,989,000 after purchasing an additional 37,096 shares during the period. Mesirow Institutional Investment Management Inc. grew its stake in National Instruments by 69.0% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 8,245 shares of the technology company’s stock valued at $304,000 after buying an additional 3,365 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new position in National Instruments in the 4th quarter valued at approximately $2,525,000. Institutional investors own 90.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NATI shares. StockNews.com started coverage on National Instruments in a research note on Sunday, May 21st. They issued a “buy” rating for the company. Susquehanna cut shares of National Instruments from a “positive” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research report on Thursday, April 13th. Robert W. Baird cut shares of National Instruments from an “outperform” rating to a “neutral” rating and raised their price target for the company from $50.00 to $55.00 in a research report on Wednesday, February 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 price target (up previously from $52.00) on shares of National Instruments in a research report on Thursday, April 13th. Finally, Jefferies Financial Group cut shares of National Instruments from a “buy” rating to a “hold” rating and raised their price target for the company from $55.00 to $60.00 in a research report on Friday, April 14th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.57.

National Instruments Company Profile

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National Instruments Corp. engages in the design, manufacture, and sale of systems to engineers and scientists that accelerate productivity, innovation, and discovery. The firm’s products include Labview, TestStand, FlexLogger, Voltage, Temperature, Software Defined Radios, Power Accessories, and Repair Services.