Financial Gravity Companies Inc. acquired a new position in shares of National Instruments Corp (NASDAQ:NATI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,265 shares of the technology company’s stock, valued at approximately $56,000.
A number of other large investors also recently modified their holdings of the business. Crawford Investment Counsel Inc. boosted its stake in shares of National Instruments by 19.2% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 79,814 shares of the technology company’s stock valued at $3,857,000 after purchasing an additional 12,870 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of National Instruments by 50.1% in the 3rd quarter. Deutsche Bank AG now owns 240,765 shares of the technology company’s stock valued at $11,635,000 after purchasing an additional 80,378 shares during the last quarter. BlackRock Inc. boosted its stake in shares of National Instruments by 4.9% in the 3rd quarter. BlackRock Inc. now owns 9,824,840 shares of the technology company’s stock valued at $474,835,000 after purchasing an additional 461,597 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of National Instruments in the 3rd quarter valued at about $221,000. Finally, Retirement Systems of Alabama boosted its stake in shares of National Instruments by 7.1% in the 4th quarter. Retirement Systems of Alabama now owns 310,919 shares of the technology company’s stock valued at $14,110,000 after purchasing an additional 20,723 shares during the last quarter. 78.44% of the stock is currently owned by hedge funds and other institutional investors.
NATI has been the topic of several recent research reports. Deutsche Bank raised shares of National Instruments from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $50.00 in a research note on Friday, October 26th. BidaskClub lowered shares of National Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. Stifel Nicolaus initiated coverage on shares of National Instruments in a research note on Monday, October 22nd. They issued a “hold” rating and a $48.00 target price on the stock. ValuEngine lowered shares of National Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Finally, Zacks Investment Research upgraded shares of National Instruments from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, December 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.
Shares of NASDAQ:NATI opened at $45.02 on Tuesday. The company has a market capitalization of $5.91 billion, a P/E ratio of 33.60 and a beta of 0.77. National Instruments Corp has a fifty-two week low of $38.78 and a fifty-two week high of $53.57.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Monday, February 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from National Instruments’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 8th. National Instruments’s dividend payout ratio (DPR) is currently 68.66%.
In related news, insider Scott Arthur Rust sold 4,576 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $48.54, for a total value of $222,119.04. Following the sale, the insider now directly owns 32,169 shares in the company, valued at approximately $1,561,483.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey L. Kodosky sold 1,600 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $48.16, for a total transaction of $77,056.00. Following the completion of the sale, the director now owns 361,545 shares in the company, valued at $17,412,007.20. The disclosure for this sale can be found here. Insiders sold a total of 24,876 shares of company stock worth $1,151,558 over the last quarter. 7.98% of the stock is currently owned by corporate insiders.
National Instruments 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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