United Services Automobile Association Has $321,000 Position in Novanta Inc (NASDAQ:NOVT)

United Services Automobile Association decreased its holdings in shares of Novanta Inc (NASDAQ:NOVT) by 23.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,098 shares of the technology company’s stock after selling 1,556 shares during the period. United Services Automobile Association’s holdings in Novanta were worth $321,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NOVT. JPMorgan Chase & Co. raised its position in Novanta by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,763 shares of the technology company’s stock valued at $600,000 after buying an additional 1,076 shares during the last quarter. BlackRock Inc. increased its position in shares of Novanta by 0.9% during the 3rd quarter. BlackRock Inc. now owns 2,191,347 shares of the technology company’s stock worth $149,888,000 after purchasing an additional 20,174 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Novanta during the 3rd quarter worth approximately $428,000. Dimensional Fund Advisors LP increased its position in shares of Novanta by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,099,308 shares of the technology company’s stock worth $75,193,000 after purchasing an additional 36,832 shares during the last quarter. Finally, Jefferies Group LLC acquired a new position in shares of Novanta during the 3rd quarter worth approximately $312,000. Institutional investors own 85.70% of the company’s stock.

In related news, CAO Peter L. Chang sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $81.14, for a total transaction of $405,700.00. Following the transaction, the chief accounting officer now owns 24,760 shares in the company, valued at approximately $2,009,026.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.90% of the stock is owned by insiders.

Several research analysts have weighed in on NOVT shares. BidaskClub raised Novanta from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 2nd. Zacks Investment Research cut Novanta from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 5th. Finally, Robert W. Baird upped their target price on Novanta from $61.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th.

NOVT stock traded up $1.97 during mid-day trading on Friday, hitting $86.10. 64,597 shares of the stock were exchanged, compared to its average volume of 148,014. The company has a quick ratio of 1.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.55. Novanta Inc has a 12 month low of $55.68 and a 12 month high of $89.78. The firm has a market cap of $3.01 billion, a P/E ratio of 39.86 and a beta of 1.49.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Wednesday, February 27th. The technology company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Novanta had a return on equity of 19.48% and a net margin of 7.99%. The firm had revenue of $156.20 million for the quarter, compared to the consensus estimate of $154.51 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts expect that Novanta Inc will post 2.35 EPS for the current fiscal year.

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Novanta Company Profile

Novanta Inc, together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products for photonics-based applications, such as industrial material processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures.

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Institutional Ownership by Quarter for Novanta (NASDAQ:NOVT)

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