FMR LLC decreased its position in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 21.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,507 shares of the scientific and technical instruments company's stock after selling 16,091 shares during the quarter. FMR LLC's holdings in Cognex were worth $2,370,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of CGNX. Impax Asset Management Group plc increased its stake in shares of Cognex by 32.8% in the 2nd quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company's stock valued at $237,812,000 after acquiring an additional 1,259,116 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Cognex by 132.0% in the second quarter. Point72 Asset Management L.P. now owns 1,272,640 shares of the scientific and technical instruments company's stock valued at $59,509,000 after acquiring an additional 723,976 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in shares of Cognex during the 2nd quarter worth approximately $27,196,000. Chevy Chase Trust Holdings LLC lifted its stake in Cognex by 30.5% in the second quarter. Chevy Chase Trust Holdings LLC now owns 2,056,701 shares of the scientific and technical instruments company's stock valued at $96,171,000 after acquiring an additional 480,143 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in shares of Cognex by 116.0% in the 3rd quarter. Ceredex Value Advisors LLC now owns 789,550 shares of the scientific and technical instruments company's stock valued at $31,977,000 after acquiring an additional 423,950 shares during the period. 88.12% of the stock is currently owned by institutional investors.
Cognex Trading Down 1.7 %
CGNX stock traded down $0.63 during trading hours on Friday, hitting $37.08. 858,497 shares of the stock were exchanged, compared to its average volume of 1,256,113. The company has a 50-day simple moving average of $39.80 and a two-hundred day simple moving average of $42.02. The firm has a market capitalization of $6.36 billion, a P/E ratio of 71.31 and a beta of 1.39. Cognex Co. has a 12 month low of $34.79 and a 12 month high of $53.13.
Cognex Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Thursday, November 14th. This is an increase from Cognex's previous quarterly dividend of $0.08. Cognex's dividend payout ratio (DPR) is currently 61.54%.
Insider Activity
In other Cognex news, Director Anthony Sun sold 26,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were 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 $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CGNX. Truist Financial cut shares of Cognex from a "buy" rating to a "hold" rating and dropped their target price for the company from $46.00 to $43.00 in a report on Tuesday, November 5th. Stephens raised 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. Finally, Needham & Company LLC reduced their target price on Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $47.91.
Get Our Latest Analysis on Cognex
About Cognex
(
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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