Northern Trust Corp lessened its position in shares of National Instruments Corp (NASDAQ:NATI) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 933,598 shares of the technology company’s stock after selling 79,444 shares during the period. Northern Trust Corp’s holdings in National Instruments were worth $39,192,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NATI. Russell Investments Group Ltd. lifted its holdings in National Instruments by 37.1% during the 1st quarter. Russell Investments Group Ltd. now owns 57,612 shares of the technology company’s stock worth $2,908,000 after buying an additional 15,579 shares during the last quarter. Stifel Financial Corp lifted its holdings in National Instruments by 11.3% during the 1st quarter. Stifel Financial Corp now owns 32,405 shares of the technology company’s stock worth $1,640,000 after buying an additional 3,281 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in National Instruments by 56.8% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 22,015 shares of the technology company’s stock worth $1,113,000 after buying an additional 7,974 shares during the last quarter. LPL Financial LLC lifted its holdings in National Instruments by 10.0% during the 1st quarter. LPL Financial LLC now owns 31,462 shares of the technology company’s stock worth $1,587,000 after buying an additional 2,873 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of National Instruments by 357.7% in the 1st quarter. Millennium Management LLC now owns 310,298 shares of the technology company’s stock worth $15,692,000 after purchasing an additional 242,499 shares during the last quarter. 77.13% of the stock is currently owned by institutional investors.

In related news, Director James J. Truchard sold 42,500 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $44.58, for a total value of $1,894,650.00. Following the sale, the director now directly owns 366,345 shares in the company, valued at approximately $16,331,660.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James J. Truchard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $45.07, for a total value of $1,126,750.00. Following the completion of the sale, the director now owns 6,345,037 shares in the company, valued at $285,970,817.59. The disclosure for this sale can be found here. In the last three months, insiders sold 548,835 shares of company stock worth $25,035,904. Company insiders own 7.98% of the company’s stock.

Shares of NASDAQ NATI opened at $44.49 on Thursday. The company has a market capitalization of $6.39 billion, a P/E ratio of 47.33 and a beta of 1.03. National Instruments Corp has a 12-month low of $38.78 and a 12-month high of $53.57.

National Instruments (NASDAQ:NATI) last announced its quarterly earnings results on Thursday, July 26th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. The business had revenue of $341.00 million for the quarter, compared to the consensus estimate of $333.40 million. National Instruments had a return on equity of 12.55% and a net margin of 4.87%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. On average, analysts forecast that National Instruments Corp will post 1.21 earnings per share for the current year.

Several analysts recently issued reports on the company. Zacks Investment Research raised National Instruments from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Saturday, September 29th. BidaskClub raised National Instruments from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Robert W. Baird cut their price target on National Instruments from $47.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, July 30th. ValuEngine raised National Instruments from a “hold” rating to a “buy” rating in a report on Monday, July 30th. Finally, TheStreet raised National Instruments from a “c+” rating to a “b” rating in a report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $50.00.

National Instruments Company 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.

See Also: Outstanding Shares

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

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