Brown Capital Management LLC decreased its holdings in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,135,395 shares of the scientific and technical instruments company's stock after selling 437,631 shares during the period. Cognex comprises 2.7% of Brown Capital Management LLC's portfolio, making the stock its 16th biggest holding. Brown Capital Management LLC owned about 1.83% of Cognex worth $126,983,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. acquired a new position in Cognex in the first quarter worth $259,000. Vanguard Group Inc. grew its position in shares of Cognex by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 17,522,549 shares of the scientific and technical instruments company's stock worth $743,307,000 after buying an additional 188,485 shares during the period. Seven Eight Capital LP bought a new stake in shares of Cognex in the 1st quarter valued at about $433,000. Bessemer Group Inc. raised its position in shares of Cognex by 554.9% in the 1st quarter. Bessemer Group Inc. now owns 9,515 shares of the scientific and technical instruments company's stock valued at $403,000 after acquiring an additional 8,062 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Cognex by 362.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 508,724 shares of the scientific and technical instruments company's stock worth $21,623,000 after acquiring an additional 398,746 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently issued reports on CGNX shares. The Goldman Sachs Group decreased their price target on shares of Cognex from $45.00 to $39.00 and set a "sell" rating for the company in a report on Friday, August 2nd. Needham & Company LLC lowered their price target on Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a report on Friday, November 1st. Truist Financial cut Cognex from a "buy" rating to a "hold" rating and cut their price objective for the company from $46.00 to $43.00 in a report on Tuesday, November 5th. DA Davidson lowered their target price on Cognex from $41.00 to $39.00 and set a "neutral" rating for the company in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Cognex from a "sell" rating to a "hold" rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Cognex has an average rating of "Hold" and an average price target of $47.91.
Read Our Latest Report on Cognex
Insider Transactions at Cognex
In related news, CFO Dennis Fehr acquired 6,570 shares of the firm's stock in a transaction on 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 completion of the acquisition, the chief financial officer now directly owns 6,570 shares in the company, valued at approximately $249,922.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.
Cognex Stock Performance
CGNX traded up $0.22 on Thursday, hitting $39.27. 640,202 shares of the company were exchanged, compared to its average volume of 1,272,350. The company has a market cap of $6.74 billion, a PE ratio of 75.10 and a beta of 1.40. Cognex Co. has a 12 month low of $34.79 and a 12 month high of $53.13. The stock's fifty day moving average is $39.91 and its 200-day moving average is $42.98.
Cognex Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Thursday, November 14th. This is an increase from Cognex's previous quarterly dividend of $0.08. Cognex's dividend payout ratio (DPR) is 61.54%.
Cognex Profile
(
Free Report)
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.
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