Teachers Retirement System of The State of Kentucky reduced its position in National Instruments Corporation (NASDAQ:NATI) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 173,414 shares of the technology company’s stock after selling 11,321 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.13% of National Instruments Corporation worth $5,646,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of National Instruments Corporation by 4.8% in the first quarter. Vanguard Group Inc. now owns 9,450,422 shares of the technology company’s stock worth $307,706,000 after buying an additional 432,034 shares during the period. BlackRock Inc. increased its stake in shares of National Instruments Corporation by 7,809.7% in the first quarter. BlackRock Inc. now owns 9,143,655 shares of the technology company’s stock worth $297,718,000 after buying an additional 9,028,054 shares during the period. Wellington Management Group LLP raised its stake in National Instruments Corporation by 4.3% in the first quarter. Wellington Management Group LLP now owns 6,549,709 shares of the technology company’s stock worth $213,258,000 after buying an additional 267,706 shares during the last quarter. Findlay Park Partners LLP raised its stake in National Instruments Corporation by 0.9% in the first quarter. Findlay Park Partners LLP now owns 4,769,035 shares of the technology company’s stock worth $155,280,000 after buying an additional 44,163 shares during the last quarter. Finally, Bares Capital Management Inc. raised its stake in National Instruments Corporation by 15.1% in the first quarter. Bares Capital Management Inc. now owns 3,766,942 shares of the technology company’s stock worth $122,652,000 after buying an additional 493,095 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
National Instruments Corporation (NASDAQ NATI) opened at 42.10 on Tuesday. The firm has a market capitalization of $5.46 billion, a P/E ratio of 59.38 and a beta of 0.93. The firm’s 50-day moving average is $38.49 and its 200 day moving average is $33.70. National Instruments Corporation has a 52-week low of $26.74 and a 52-week high of $42.17.
National Instruments Corporation (NASDAQ:NATI) last issued its quarterly earnings results on Thursday, April 27th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. National Instruments Corporation had a net margin of 7.76% and a return on equity of 9.85%. The firm had revenue of $300.10 million for the quarter, compared to analyst estimates of $300.30 million. During the same period in the previous year, the business earned $0.16 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that National Instruments Corporation will post $0.91 EPS for the current year.
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A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of National Instruments Corporation from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, May 2nd. Deutsche Bank AG assumed coverage on shares of National Instruments Corporation in a research note on Tuesday, May 16th. They issued a “hold” rating and a $34.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $35.75.
In other news, CEO Alexander M. Davern sold 9,914 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $38.52, for a total transaction of $381,887.28. Following the transaction, the chief executive officer now directly owns 84,757 shares in the company, valued at approximately $3,264,839.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Truchard sold 2,500 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $34.02, for a total transaction of $85,050.00. Following the completion of the transaction, the director now owns 9,253,916 shares in the company, valued at approximately $314,818,222.32. The disclosure for this sale can be found here. Insiders sold a total of 145,354 shares of company stock worth $5,371,039 over the last quarter. Company insiders own 9.92% of the company’s stock.
About National Instruments Corporation
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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