National Instruments Co. (NASDAQ:NATI – Get Rating) announced a quarterly dividend on Thursday, October 27, Zacks reports. Shareholders of record on Monday, November 7 will receive a dividend of 0.28 per share from the technology company on Monday, November 28. This represents a dividend of $1.12 on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, November 4.
National Instruments has increased its dividend payment by an average of 5.5% per year over the past three years and has increased its dividend annually for the past 9 consecutive years. National Instruments has a dividend payout ratio of 43.6%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect National Instruments to earn $2.06 per share next year, meaning the company should continue to be able to cover its annual dividend of $1.12 with a ratio of expected future payout of 54.4%.
National Instruments price performance
NATI shares opened at $38.72 on Friday. The stock has a market capitalization of $5.08 billion, a P/E ratio of 36.88 and a beta of 1.09. National Instruments has a 12-month low of $29.81 and a 12-month high of $45.98. The company has a 50-day moving average of $39.47 and a 200-day moving average of $36.75. The company has a quick ratio of 1.57, a current ratio of 2.49 and a debt ratio of 0.41.
National Instruments (NASDAQ:NATI – Get Rating) last released its results on Thursday, July 28. The technology company reported earnings per share (EPS) of $0.22 for the quarter, beating consensus analyst estimates of $0.21 by $0.01. National Instruments achieved a return on equity of 15.63% and a net margin of 6.71%. The company posted revenue of $395.50 million for the quarter, compared to $388.98 million expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.23. The company’s revenue for the quarter increased 14.1% year over year. As a group, equity research analysts expect National Instruments to post EPS of 1.49 for the current fiscal year.
Analysts set new price targets
Several research companies have recently weighed in on NATI. TheStreet upgraded National Instruments from a “c” rating to a “b-” rating in a research note on Thursday. StockNews.com began covering National Instruments in a research note on Wednesday, October 12. They issued a “hold” rating for the company. Morgan Stanley cut its price target on National Instruments from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. raised its price target on National Instruments from $43.00 to $46.00 and gave the stock a “neutral” rating in a Monday, October 10 research report. Finally, UBS Group began covering National Instruments in a research note on Thursday, October 20. They set a “neutral” rating and a price target of $43.00 for the company. Three equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, National Instruments currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.
Insiders place their bets
Separately, CEO Eric Howard Starkloff sold 900 shares in a trade on Monday, August 15. The stock was sold at an average price of $42.00, for a total value of $37,800.00. As a result of the transaction, the CEO now owns 287,278 shares of the company, valued at $12,065,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. In other news, Executive Vice President Jason Elliot Green sold 5,000 shares of National Instruments in a trade that took place on Friday, August 12. The shares were sold at an average price of $41.46, for a total transaction of $207,300.00. Following the completion of the sale, the executive vice president now directly owns 82,081 shares of the company, valued at approximately $3,403,078.26. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Additionally, CEO Eric Howard Starkloff sold 900 shares of the company in a trade that took place on Monday, August 15. The stock was sold at an average price of $42.00, for a total transaction of $37,800.00. As a result of the transaction, the CEO now directly owns 287,278 shares of the company, valued at $12,065,676. The disclosure of this sale can be found here. Insiders sold 10,900 shares of the company worth $438,050 in the past ninety days. Company insiders own 0.64% of the company’s shares.
Institutional negotiation of national instruments
Several hedge funds and other institutional investors have recently bought and sold shares of NATI. Blair William & Co. IL increased its National Instruments equity stake by 7.6% in Q1. Blair William & Co. IL now owns 26,532 shares of the technology company valued at $1,077,000 after acquiring 1,885 additional shares last quarter. Jane Street Group LLC increased its position in National Instruments shares by 373.3% in the first quarter. Jane Street Group LLC now owns 22,450 shares of the technology company worth $911,000 after buying 17,707 additional shares in the last quarter. Captrust Financial Advisors increased its position in National Instruments shares by 66.9% during the second quarter. Captrust Financial Advisors now owns 25,927 shares of the technology company valued at $810,000 after buying 10,390 additional shares in the last quarter. HighTower Advisors LLC increased its position in National Instruments shares by 3.6% during the first quarter. HighTower Advisors LLC now owns 15,424 shares of the technology company valued at $633,000 after buying an additional 540 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new equity stake in National Instruments during Q1 valued at approximately $529,000. 83.25% of the shares are held by hedge funds and other institutional investors.
National Instruments Company Profile
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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 for viewing hardware configuration, measurement data, and application debugging; NI LabWindows/CVI, an ANSI C integrated development environment and engineering toolkit; and NI Measurement Studio, a suite of .NET tools for building engineering applications in Microsoft Visual Studio.
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