Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 112,232 Cognex Co. (NASDAQ:CGNX)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Cognex Co. (NASDAQ:CGNX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 112,232 shares of the scientific and technical instruments company's stock, valued at approximately $4,545,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Cognex at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its stake in shares of Cognex by 19.8% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company's stock worth $85,000 after acquiring an additional 301 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Cognex by 11.3% during the 2nd quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company's stock worth $179,000 after acquiring an additional 390 shares during the last quarter. Creative Planning boosted its stake in shares of Cognex by 2.4% during the 3rd quarter. Creative Planning now owns 21,919 shares of the scientific and technical instruments company's stock worth $888,000 after acquiring an additional 512 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Cognex by 43.2% during the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company's stock worth $80,000 after acquiring an additional 514 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Cognex by 3.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,819 shares of the scientific and technical instruments company's stock worth $880,000 after acquiring an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

Insider Transactions at Cognex

In other Cognex news, CFO Dennis Fehr bought 6,570 shares of Cognex stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the acquisition, the chief financial officer now directly owns 6,570 shares in the company, valued at approximately $249,922.80. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

Cognex Stock Up 3.8 %

NASDAQ CGNX traded up $1.47 on Friday, reaching $40.67. The company had a trading volume of 1,102,725 shares, compared to its average volume of 1,257,509. The stock has a market capitalization of $6.98 billion, a PE ratio of 78.21 and a beta of 1.40. The firm's 50 day moving average price is $39.97 and its 200 day moving average price is $42.91. Cognex Co. has a 12 month low of $34.79 and a 12 month high of $53.13.

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a $0.08 dividend. This is an increase from Cognex's previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, November 14th. Cognex's payout ratio is currently 61.54%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CGNX. Truist Financial cut shares of Cognex from a "buy" rating to a "hold" rating and dropped their price target for the stock from $46.00 to $43.00 in a research note on Tuesday, November 5th. DA Davidson decreased their price objective on shares of Cognex from $41.00 to $39.00 and set a "neutral" rating on the stock in a research report on Monday, August 5th. Stephens upgraded shares of Cognex from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $45.00 to $55.00 in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on shares of Cognex from $45.00 to $39.00 and set a "sell" rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Cognex from a "sell" rating to a "hold" rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Cognex currently has an average rating of "Hold" and an average price target of $47.91.

Cognex Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.