Bank of America Corp DE Sells 38,036 Shares of National Instruments Co. (NASDAQ:NATI)

Posted by Defense World Staff on Jun 9th, 2023

Bank of America Corp DE lowered its position in shares of National Instruments Co. (NASDAQ:NATI – Get Rating) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,021,413 shares of the technology company’s stock after selling 38,036 shares during the period. Bank of America Corp DE owned about 0.78% of National Instruments worth $37,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NATI. Quadrant Capital Group LLC grew its position in National Instruments by 225.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 781 shares of the technology company’s stock worth $29,000 after acquiring an additional 541 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of National Instruments in the 3rd quarter valued at about $33,000. Signaturefd LLC lifted its stake in shares of National Instruments by 77.0% in the 3rd quarter. Signaturefd LLC now owns 995 shares of the technology company’s stock valued at $38,000 after purchasing an additional 433 shares during the period. Bessemer Group Inc. raised its stake in National Instruments by 231.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,022 shares of the technology company’s stock worth $39,000 after buying an additional 714 shares during the period. Finally, Fred Alger Management LLC acquired a new position in National Instruments during the 3rd quarter worth approximately $64,000. Institutional investors own 90.87% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alexander M. Davern sold 5,037 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $58.05, for a total transaction of $292,397.85. Following the completion of the sale, the director now owns 188,532 shares in the company, valued at $10,944,282.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Alexander M. Davern sold 5,037 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $58.05, for a total value of $292,397.85. Following the completion of the sale, the director now directly owns 188,532 shares of the company’s stock, valued at approximately $10,944,282.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Arthur Rust sold 29,821 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $57.98, for a total value of $1,729,021.58. Following the sale, the executive vice president now directly owns 36,533 shares of the company’s stock, valued at $2,118,183.34. The disclosure for this sale can be found here. Insiders sold a total of 38,352 shares of company stock worth $2,223,023 over the last quarter. 0.69% of the stock is currently owned by corporate insiders.

National Instruments Price Performance

Shares of NATI stock opened at $57.50 on Friday. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 47.52 and a beta of 1.20. The business’s fifty day moving average is $57.09 and its 200 day moving average is $50.13. National Instruments Co. has a twelve month low of $29.81 and a twelve month high of $58.30. The company has a quick ratio of 1.29, a current ratio of 2.06 and a debt-to-equity ratio of 0.41.

National Instruments (NASDAQ:NATI – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The company had revenue of $436.83 million during the quarter, compared to analysts’ expectations of $430.44 million. National Instruments had a return on equity of 20.15% and a net margin of 9.44%. Research analysts expect that National Instruments Co. will post 1.77 EPS for the current fiscal year.

National Instruments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Tuesday, May 9th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Monday, May 8th. National Instruments’s dividend payout ratio (DPR) is presently 92.56%.

Wall Street Analyst Weigh In

NATI has been the topic of several recent analyst reports. Jefferies Financial Group cut National Instruments from a “buy” rating to a “hold” rating and raised their price objective for the company from $55.00 to $60.00 in a research note on Friday, April 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (up from $52.00) on shares of National Instruments in a research report on Thursday, April 13th. StockNews.com started coverage on National Instruments in a research report on Tuesday. They set a “buy” rating for the company. Finally, Susquehanna lowered National Instruments from a “positive” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Thursday, April 13th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, National Instruments presently has an average rating of “Hold” and a consensus price target of $52.57.

National Instruments Profile

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National Instruments Corp. engages in the design, manufacture, and sale of systems to engineers and scientists that accelerate productivity, innovation, and discovery. The firm’s products include Labview, TestStand, FlexLogger, Voltage, Temperature, Software Defined Radios, Power Accessories, and Repair Services.