Principal Financial Group Inc. Acquires 68,544 Shares of National Instruments Co. (NASDAQ:NATI)

Principal Financial Group Inc. lifted its holdings in shares of National Instruments Co. (NASDAQ:NATIGet Rating) by 15.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 517,022 shares of the technology company’s stock after purchasing an additional 68,544 shares during the period. Principal Financial Group Inc.’s holdings in National Instruments were worth $16,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR boosted its holdings in National Instruments by 4.9% during the first quarter. Stephens Inc. AR now owns 6,046 shares of the technology company’s stock worth $245,000 after purchasing an additional 280 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in National Instruments by 4.6% during the first quarter. Advisor Group Holdings Inc. now owns 6,801 shares of the technology company’s stock worth $269,000 after purchasing an additional 298 shares during the last quarter. Profund Advisors LLC boosted its holdings in National Instruments by 4.9% during the first quarter. Profund Advisors LLC now owns 6,930 shares of the technology company’s stock worth $281,000 after purchasing an additional 321 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in National Instruments by 5.3% during the second quarter. Summit Trail Advisors LLC now owns 7,372 shares of the technology company’s stock worth $230,000 after purchasing an additional 372 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in National Instruments by 32.8% during the second 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 last quarter. 83.25% of the stock is currently owned by hedge funds and other institutional investors.

National Instruments Stock Performance

Shares of NATI stock opened at $41.28 on Thursday. The stock has a market capitalization of $5.39 billion, a P/E ratio of 39.31 and a beta of 1.06. The company has a current ratio of 2.45, a quick ratio of 1.58 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $39.16 and its 200 day moving average is $36.91. National Instruments Co. has a 12 month low of $29.81 and a 12 month high of $44.85.

National Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 7th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, November 4th. National Instruments’s payout ratio is currently 106.67%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NATI shares. Jefferies Financial Group started coverage on shares of National Instruments in a report on Tuesday. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of National Instruments from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, October 10th. UBS Group initiated coverage on shares of National Instruments in a research note on Thursday, October 20th. They issued a “neutral” rating and a $43.00 target price on the stock. Morgan Stanley dropped their target price on shares of National Instruments from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 28th. Finally, TheStreet upgraded shares of National Instruments from a “c” rating to a “b-” rating in a research note on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.14.

Insider Activity at National Instruments

In related news, CEO Eric Howard Starkloff sold 800 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $40.00, for a total transaction of $32,000.00. Following the sale, the chief executive officer now directly owns 286,478 shares in the company, valued at approximately $11,459,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction of $54,864.66. Following the sale, the executive vice president now owns 38,465 shares of the company’s stock, valued at approximately $1,468,593.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric Howard Starkloff sold 800 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $40.00, for a total transaction of $32,000.00. Following the sale, the chief executive officer now directly owns 286,478 shares in the company, valued at approximately $11,459,120. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

National Instruments 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 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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