Northern Trust Corp Has $48,475,000 Stake in National Instruments Corporation (NATI)

Northern Trust Corp Has $48,475,000 Stake in National Instruments Corporation (NATI)

Northern Trust Corp boosted its stake in National Instruments Corporation (NASDAQ:NATI) by 8.5% during the third quarter, Holdings Channel reports. The fund owned 1,706,879 shares of the company’s stock after buying an additional 134,263 shares during the period. Northern Trust Corp owned 1.32% of National Instruments Corporation worth $48,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Princeton Alpha Management LP purchased a new position in National Instruments Corporation during the third quarter valued at about $800,000. American International Group Inc. increased its stake in shares of National Instruments Corporation by 4.3% in the third quarter. American International Group Inc. now owns 203,136 shares of the company’s stock valued at $5,769,000 after buying an additional 8,394 shares during the period. California State Teachers Retirement System increased its stake in shares of National Instruments Corporation by 1.0% in the third quarter. California State Teachers Retirement System now owns 222,167 shares of the company’s stock valued at $6,310,000 after buying an additional 2,100 shares during the period. Schroder Investment Management Group increased its stake in shares of National Instruments Corporation by 1.8% in the third quarter. Schroder Investment Management Group now owns 130,781 shares of the company’s stock valued at $3,714,000 after buying an additional 2,364 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of National Instruments Corporation by 198.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 156,324 shares of the company’s stock valued at $4,440,000 after buying an additional 103,880 shares during the period. Hedge funds and other institutional investors own 74.96% of the company’s stock.

National Instruments Corporation (NASDAQ:NATI) traded down 1.99% during mid-day trading on Friday, reaching $31.10. 866,786 shares of the company traded hands. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 46.42 and a beta of 0.91. The company’s 50-day moving average is $30.76 and its 200-day moving average is $28.93. National Instruments Corporation has a 12-month low of $25.90 and a 12-month high of $31.99.

National Instruments Corporation (NASDAQ:NATI) last issued its earnings results on Thursday, January 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The business earned $329 million during the quarter, compared to analyst estimates of $340.61 million. National Instruments Corporation had a return on equity of 9.79% and a net margin of 6.95%. National Instruments Corporation’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Equities analysts predict that National Instruments Corporation will post $0.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 6th. Shareholders of record on Monday, February 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, February 9th. This represents a $0.84 annualized dividend and a yield of 2.65%. This is a positive change from National Instruments Corporation’s previous quarterly dividend of $0.20. National Instruments Corporation’s dividend payout ratio is currently 121.21%.

Several brokerages have recently commented on NATI. Stifel Nicolaus raised their price objective on shares of National Instruments Corporation from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird raised shares of National Instruments Corporation from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $32.00 to $35.00 in a research report on Thursday, December 22nd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $32.67.

In other National Instruments Corporation news, insider Scott Arthur Rust sold 17,454 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $27.80, for a total value of $485,221.20. Following the completion of the sale, the insider now owns 32,808 shares in the company, valued at $912,062.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Howard Starkloff sold 1,709 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $28.09, for a total value of $48,005.81. Following the completion of the sale, the insider now owns 14,149 shares of the company’s stock, valued at approximately $397,445.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,993 shares of company stock valued at $972,362. 10.98% of the stock is owned by insiders.

About National Instruments Corporation

National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers graphical system design approach to engineering, which provides an integrated software and hardware platform for measurement and control systems. Its products include reusable hardware and software modules.

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