National Instruments Corp (NATI) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in National Instruments Corp (NASDAQ:NATI) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,605,034 shares of the technology company’s stock after selling 23,516 shares during the period. Bank of New York Mellon Corp’s holdings in National Instruments were worth $72,837,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NATI. Oregon Public Employees Retirement Fund grew its holdings in shares of National Instruments by 4,438.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,923,976 shares of the technology company’s stock valued at $42,000 after acquiring an additional 1,881,579 shares in the last quarter. BlackRock Inc. grew its holdings in shares of National Instruments by 18.3% in the fourth quarter. BlackRock Inc. now owns 11,625,479 shares of the technology company’s stock valued at $527,565,000 after acquiring an additional 1,800,639 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of National Instruments by 1,315.4% in the third quarter. Federated Investors Inc. PA now owns 1,339,241 shares of the technology company’s stock valued at $64,726,000 after acquiring an additional 1,244,624 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of National Instruments by 19.6% in the third quarter. William Blair Investment Management LLC now owns 2,765,862 shares of the technology company’s stock valued at $133,674,000 after acquiring an additional 453,597 shares in the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of National Instruments by 3.0% in the third quarter. Vanguard Group Inc now owns 11,334,275 shares of the technology company’s stock valued at $547,785,000 after acquiring an additional 328,378 shares in the last quarter. 77.80% of the stock is owned by institutional investors.

Several research firms recently commented on NATI. ValuEngine downgraded National Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded National Instruments from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Saturday, January 19th. Finally, BidaskClub downgraded National Instruments from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. National Instruments currently has a consensus rating of “Hold” and a consensus target price of $48.50.

In other National Instruments news, Director Jeffrey L. Kodosky sold 1,600 shares of the stock in a transaction on Monday, December 24th. The stock was sold at an average price of $42.63, for a total transaction of $68,208.00. Following the sale, the director now owns 360,045 shares in the company, valued at $15,348,718.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey L. Kodosky sold 2,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $45.30, for a total value of $90,600.00. Following the sale, the director now owns 356,586 shares in the company, valued at approximately $16,153,345.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,700 shares of company stock worth $1,072,373. Company insiders own 7.98% of the company’s stock.

National Instruments stock opened at $45.07 on Friday. National Instruments Corp has a 12 month low of $38.78 and a 12 month high of $53.21. The company has a market capitalization of $6.00 billion, a P/E ratio of 33.63 and a beta of 0.81.

National Instruments (NASDAQ:NATI) last posted its quarterly earnings data on Tuesday, January 29th. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). National Instruments had a net margin of 11.41% and a return on equity of 15.11%. The firm had revenue of $360.10 million during the quarter, compared to analysts’ expectations of $380.05 million. As a group, equities analysts expect that National Instruments Corp will post 1.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 11th were paid a $0.25 dividend. This is an increase from National Instruments’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, February 8th. This represents a $1.00 annualized dividend and a yield of 2.22%. National Instruments’s dividend payout ratio is presently 74.63%.

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About National Instruments

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

Further Reading: Ex-Dividend

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

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