Riverbridge Partners LLC Sells 64,105 Shares of National Instruments Co. (NASDAQ:NATI)

Riverbridge Partners LLC decreased its stake in National Instruments Co. (NASDAQ:NATI – Get Rating) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,950,205 shares of the technology company’s stock after selling 64,105 shares during the period. National Instruments accounts for approximately 1.1% of Riverbridge Partners LLC’s holdings, making the stock its 28th largest position. Riverbridge Partners LLC owned approximately 1.49% of National Instruments worth $71,963,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of National Instruments by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,512,926 shares of the technology company’s stock valued at $57,100,000 after acquiring an additional 25,250 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of National Instruments in the 3rd quarter valued at about $763,000. Glenmede Trust Co. NA bought a new position in shares of National Instruments in the 3rd quarter valued at about $221,000. Captrust Financial Advisors grew its holdings in National Instruments by 33.9% during the third quarter. Captrust Financial Advisors now owns 24,904 shares of the technology company’s stock worth $940,000 after purchasing an additional 6,300 shares during the period. Finally, Balyasny Asset Management LLC bought a new position in National Instruments during the third quarter worth about $11,794,000. Institutional investors own 90.87% of the company’s stock.

National Instruments Stock Up 0.3 %

NATI stock opened at $50.57 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.08 and a quick ratio of 1.34. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 48.16 and a beta of 1.19. The business’s fifty day moving average price is $50.87 and its two-hundred day moving average price is $43.11. National Instruments Co. has a fifty-two week low of $29.81 and a fifty-two week high of $55.04.

National Instruments Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 6th. Shareholders of record on Monday, February 13th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, February 10th. National Instruments’s payout ratio is 106.67%.

Insiders Place Their Bets

In other National Instruments news, EVP Scott Arthur Rust sold 2,094 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $54.25, for a total transaction of $113,599.50. Following the transaction, the executive vice president now owns 55,070 shares in the company, valued at approximately $2,987,547.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Eric Howard Starkloff sold 1,200 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $54.40, for a total value of $65,280.00. Following the transaction, the chief executive officer now owns 282,278 shares in the company, valued at $15,355,923.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Arthur Rust sold 2,094 shares of the firm’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $54.25, for a total value of $113,599.50. Following the completion of the transaction, the executive vice president now owns 55,070 shares in the company, valued at approximately $2,987,547.50. The disclosure for this sale can be found here. Insiders have sold 41,290 shares of company stock worth $2,224,644 in the last 90 days. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NATI. Jefferies Financial Group began coverage on National Instruments in a report on Tuesday, November 22nd. They set a “buy” rating and a $50.00 price target for the company. Robert W. Baird cut National Instruments from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $55.00 in a report on Wednesday, February 1st. Morgan Stanley reiterated an “overweight” rating and set a $52.00 price target on shares of National Instruments in a report on Tuesday, January 17th. Finally, StockNews.com began coverage on National Instruments in a report on Saturday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, National Instruments presently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

About National Instruments

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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.