Comerica Bank Sells 699 Shares of National Instruments Co. (NASDAQ:NATI)

Comerica Bank reduced its stake in shares of National Instruments Co. (NASDAQ:NATIGet Rating) by 1.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,446 shares of the technology company’s stock after selling 699 shares during the period. Comerica Bank’s holdings in National Instruments were worth $2,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Toth Financial Advisory Corp bought a new position in National Instruments in the 2nd quarter worth approximately $25,000. Wipfli Financial Advisors LLC purchased a new stake in shares of National Instruments during the 3rd quarter valued at $35,000. First Horizon Advisors Inc. purchased a new stake in shares of National Instruments during the 2nd quarter valued at $50,000. EverSource Wealth Advisors LLC raised its position in shares of National Instruments by 5,855.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the technology company’s stock valued at $54,000 after buying an additional 1,698 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in National Instruments by 32.8% in the 2nd quarter. Van ECK Associates Corp now owns 1,771 shares of the technology company’s stock worth $55,000 after purchasing an additional 437 shares during the period. 90.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of National Instruments from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 target price on shares of National Instruments in a research note on Tuesday. TheStreet raised shares of National Instruments from a “c” rating to a “b-” rating in a research note on Thursday, October 27th. Jefferies Financial Group assumed coverage on shares of National Instruments in a research note on Tuesday, November 22nd. They set a “buy” rating and a $50.00 target price on the stock. Finally, The Goldman Sachs Group cut their target price on shares of National Instruments from $49.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.13.

National Instruments Stock Up 0.9 %

Shares of National Instruments stock opened at $52.50 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.58 and a current ratio of 2.45. The stock has a market capitalization of $6.85 billion, a PE ratio of 50.00 and a beta of 1.09. National Instruments Co. has a 52-week low of $29.81 and a 52-week high of $54.69. The company has a 50-day simple moving average of $39.84 and a two-hundred day simple moving average of $38.71.

National Instruments (NASDAQ:NATIGet Rating) last issued its earnings results on Thursday, October 27th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $427.93 million during the quarter, compared to analysts’ expectations of $426.71 million. National Instruments had a net margin of 8.59% and a return on equity of 16.91%. On average, analysts anticipate that National Instruments Co. will post 1.39 EPS for the current fiscal year.

National Instruments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 7th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $1.12 dividend on an annualized basis and a yield of 2.13%. National Instruments’s dividend payout ratio is currently 106.67%.

Insider Buying and Selling at National Instruments

In other National Instruments news, EVP Ritu Favre sold 1,437 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $38.18, for a total value of $54,864.66. Following the completion of the transaction, the executive vice president now directly owns 38,465 shares in the company, valued at $1,468,593.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Ritu Favre sold 1,437 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $38.18, for a total transaction of $54,864.66. Following the completion of the transaction, the executive vice president now owns 38,465 shares in the company, valued at $1,468,593.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric Howard Starkloff sold 1,200 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $54.40, for a total transaction of $65,280.00. Following the transaction, the chief executive officer now owns 282,278 shares of the company’s stock, valued at approximately $15,355,923.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,437 shares of company stock valued at $288,351. Insiders own 0.66% of the company’s stock.

About National Instruments

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National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes NI LabVIEW, a graphical software platform to visualize hardware configuration, measurement data, and debugging of application; NI LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox; and NI Measurement Studio, a suite of .NET tools for building engineering applications in Microsoft Visual Studio.

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Institutional Ownership by Quarter for National Instruments (NASDAQ:NATI)

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