Cognex Co. (NASDAQ:CGNX) CTO Sells $110,758.50 in Stock

Cognex Co. (NASDAQ:CGNX - Get Free Report) CTO Joerg Kuechen sold 2,934 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cognex Stock Up 1.1 %

CGNX stock traded up $0.39 during midday trading on Monday, reaching $37.47. 1,273,771 shares of the company's stock traded hands, compared to its average volume of 1,256,186. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 72.06 and a beta of 1.39. The firm's fifty day moving average price is $39.80 and its 200-day moving average price is $42.00. Cognex Co. has a 52 week low of $34.79 and a 52 week high of $53.13.

Cognex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a dividend of $0.08 per share. This is a boost from Cognex's previous quarterly dividend of $0.08. The ex-dividend date was Thursday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Cognex's payout ratio is presently 61.54%.

Institutional Investors Weigh In On Cognex

A number of institutional investors and hedge funds have recently bought and sold shares of CGNX. Riverview Trust Co bought a new position in Cognex during the third quarter valued at about $25,000. Advisors Asset Management Inc. boosted its stake in Cognex by 123.1% in the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 394 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Cognex during the 3rd quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cognex during the 3rd quarter worth approximately $40,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Cognex in the 2nd quarter worth approximately $55,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CGNX has been the topic of a number of recent research reports. Needham & Company LLC cut their price target on Cognex from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Stephens upgraded shares of Cognex from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Finally, Truist Financial lowered Cognex from a "buy" rating to a "hold" rating and reduced their price target for the company from $46.00 to $43.00 in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.91.

Cognex Company 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.