James J. Truchard Sells 985,162 Shares of National Instruments Corporation (NATI) Stock
National Instruments Corporation (NASDAQ:NATI) Director James J. Truchard sold 985,162 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $43.66, for a total transaction of $43,012,172.92. Following the completion of the transaction, the director now directly owns 8,345,037 shares in the company, valued at approximately $364,344,315.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
National Instruments Corporation (NATI) traded down $0.29 on Friday, hitting $44.70. The stock had a trading volume of 1,138,083 shares, compared to its average volume of 695,210. The company has a market capitalization of $5.86 billion, a P/E ratio of 50.90 and a beta of 0.94.
National Instruments Corporation (NASDAQ:NATI) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. The company had revenue of $320.90 million for the quarter, compared to analysts’ expectations of $319.78 million. National Instruments Corporation had a return on equity of 10.16% and a net margin of 8.72%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. equities research analysts forecast that National Instruments Corporation will post 0.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. National Instruments Corporation’s dividend payout ratio (DPR) is presently 100.00%.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. bought a new stake in shares of National Instruments Corporation during the second quarter valued at approximately $139,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of National Instruments Corporation by 6.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,058 shares of the technology company’s stock valued at $163,000 after acquiring an additional 241 shares during the period. JPMorgan Chase & Co. increased its stake in shares of National Instruments Corporation by 21.5% during the first quarter. JPMorgan Chase & Co. now owns 4,845 shares of the technology company’s stock valued at $158,000 after acquiring an additional 858 shares during the period. Nwam LLC acquired a new position in shares of National Instruments Corporation during the second quarter valued at approximately $215,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of National Instruments Corporation during the second quarter valued at approximately $218,000. 80.60% of the stock is currently owned by institutional investors.
NATI has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $46.00 target price on shares of National Instruments Corporation in a report on Sunday, July 30th. BidaskClub cut shares of National Instruments Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research raised shares of National Instruments Corporation from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.25.
National Instruments Corporation Company Profile
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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