Cognex Co. (NASDAQ:CGNX) Given Average Recommendation of "Hold" by Brokerages

Shares of Cognex Co. (NASDAQ:CGNX - Get Free Report) have earned an average recommendation of "Hold" from the eleven research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $47.91.

A number of brokerages have recently issued reports on CGNX. The Goldman Sachs Group cut 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. Needham & Company LLC reduced their price objective on shares of Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Vertical Research initiated coverage on shares of Cognex in a research report on Tuesday, July 23rd. They set a "buy" rating and a $58.00 price objective for the company. StockNews.com raised shares of Cognex from a "sell" rating to a "hold" rating in a report on Friday, August 9th. Finally, Robert W. Baird dropped their price objective on shares of Cognex from $46.00 to $42.00 and set a "neutral" rating for the company in a report on Monday, August 5th.

Cognex Price Performance

Shares of Cognex stock traded down $0.21 during trading on Wednesday, hitting $39.05. The stock had a trading volume of 1,162,647 shares, compared to its average volume of 1,273,980. Cognex has a 12 month low of $34.79 and a 12 month high of $53.13. The firm's fifty day simple moving average is $39.90 and its 200-day simple moving average is $43.01. The stock has a market cap of $6.70 billion, a PE ratio of 73.85 and a beta of 1.40.

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be given a $0.08 dividend. This is a positive change from Cognex's previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.82%. Cognex's dividend payout ratio (DPR) is 61.54%.

Insiders Place Their Bets

In related news, CFO Dennis Fehr acquired 6,570 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $38.04 per share, with a total value of $249,922.80. Following the purchase, the chief financial officer now owns 6,570 shares of the company's stock, valued at approximately $249,922.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of Cognex

A number of institutional investors and hedge funds have recently modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Cognex during the third quarter worth $25,000. Advisors Asset Management Inc. raised its position in shares of Cognex by 123.1% during the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company's stock worth $29,000 after acquiring an additional 394 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Cognex during the third quarter worth $36,000. GAMMA Investing LLC raised its position in shares of Cognex by 276.1% during the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company's stock worth $51,000 after acquiring an additional 798 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Cognex during the second quarter worth $55,000. 88.12% of the stock is currently owned by institutional investors.

About Cognex

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.