Teachers Advisors LLC lessened its holdings in shares of National Instruments Corp (NASDAQ:NATI) by 40.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 252,613 shares of the technology company’s stock after selling 173,214 shares during the period. Teachers Advisors LLC owned 0.19% of National Instruments worth $12,209,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in NATI. BlackRock Inc. boosted its stake in shares of National Instruments by 4.9% in the third quarter. BlackRock Inc. now owns 9,824,840 shares of the technology company’s stock valued at $474,835,000 after buying an additional 461,597 shares in the last quarter. William Blair Investment Management LLC boosted its position in National Instruments by 19.6% during the third quarter. William Blair Investment Management LLC now owns 2,765,862 shares of the technology company’s stock worth $133,674,000 after purchasing an additional 453,597 shares in the last quarter. King Luther Capital Management Corp boosted its position in National Instruments by 1.7% during the third quarter. King Luther Capital Management Corp now owns 2,017,755 shares of the technology company’s stock worth $97,518,000 after purchasing an additional 32,919 shares in the last quarter. Bank of New York Mellon Corp boosted its position in National Instruments by 2.4% during the third quarter. Bank of New York Mellon Corp now owns 1,628,550 shares of the technology company’s stock worth $78,708,000 after purchasing an additional 38,643 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in National Instruments during the third quarter worth $56,634,000. Hedge funds and other institutional investors own 78.44% of the company’s stock.
A number of research firms have commented on NATI. Zacks Investment Research upgraded National Instruments from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a research report on Thursday, November 1st. BidaskClub upgraded National Instruments from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. ValuEngine downgraded National Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Stifel Nicolaus began coverage on National Instruments in a research report on Monday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Finally, Deutsche Bank upgraded National Instruments from a “hold” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $50.00 in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $48.50.
Shares of NASDAQ NATI traded up $0.12 during trading on Monday, reaching $44.73. The company had a trading volume of 937 shares, compared to its average volume of 1,058,780. National Instruments Corp has a twelve month low of $38.78 and a twelve month high of $53.57. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 33.30 and a beta of 0.77.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Monday, February 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from National Instruments’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, February 8th. National Instruments’s payout ratio is 74.63%.
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National Instruments Company Profile
National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.
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