Cognex Co. (NASDAQ:CGNX) Shares Bought by State Street Corp

State Street Corp boosted its stake in Cognex Co. (NASDAQ:CGNX - Free Report) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,190,365 shares of the scientific and technical instruments company's stock after buying an additional 42,882 shares during the quarter. State Street Corp owned approximately 3.03% of Cognex worth $210,210,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CGNX. Riverview Trust Co acquired a new stake in Cognex during the 3rd quarter worth $25,000. Advisors Asset Management Inc. boosted its position in 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 acquired a new position in Cognex during the third quarter worth about $36,000. Point72 Hong Kong Ltd purchased a new stake in Cognex during the 2nd quarter valued at about $55,000. Finally, Signaturefd LLC raised its holdings in Cognex by 43.2% in the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company's stock valued at $80,000 after acquiring an additional 514 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial cut Cognex from a "buy" rating to a "hold" rating and lowered their target price for the stock from $46.00 to $43.00 in a report on Tuesday, November 5th. Needham & Company LLC lowered their price objective on Cognex from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Finally, Stephens raised Cognex from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $45.00 to $55.00 in a research note on Wednesday, October 16th. One equities research 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 data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $47.91.

Cognex Stock Performance

Shares of NASDAQ CGNX traded down $0.63 during mid-day trading on Friday, reaching $37.08. 858,471 shares of the company's stock were exchanged, compared to its average volume of 1,256,113. The company's 50-day moving average is $39.80 and its 200-day moving average is $42.06. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 71.31 and a beta of 1.39. 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 declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Cognex's previous quarterly dividend of $0.08. The ex-dividend date was Thursday, November 14th. Cognex's payout ratio is 61.54%.

Insider Transactions at Cognex

In related news, Director Anthony Sun sold 26,000 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the sale, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. The trade was a 49.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

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.