Principal Financial Group Inc. decreased its position in Cognex Co. (NASDAQ:CGNX - Free Report) by 76.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 400,191 shares of the scientific and technical instruments company's stock after selling 1,293,686 shares during the period. Principal Financial Group Inc. owned about 0.23% of Cognex worth $16,208,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CGNX. Riverview Trust Co acquired a new stake in shares of Cognex in the third quarter worth about $25,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 798 shares during the period. Point72 Hong Kong Ltd acquired a new position in Cognex during the second quarter valued at approximately $55,000. Signaturefd LLC lifted its position in Cognex by 43.2% during the 2nd quarter. Signaturefd LLC now owns 1,704 shares of the scientific and technical instruments company's stock worth $80,000 after acquiring an additional 514 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Cognex by 19.8% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company's stock worth $85,000 after purchasing an additional 301 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CGNX has been the subject of several recent research reports. Needham & Company LLC dropped their price target 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. Robert W. Baird reduced their price target on Cognex from $46.00 to $42.00 and set a "neutral" rating for the company in a research report on Monday, August 5th. DA Davidson decreased their price objective on Cognex from $41.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, August 5th. Truist Financial downgraded shares of 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. Finally, Vertical Research began coverage on shares of Cognex in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $58.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $47.91.
Read Our Latest Stock Analysis on Cognex
Cognex Stock Performance
Cognex stock traded down $0.92 during mid-day trading on Friday, reaching $39.61. 911,416 shares of the company were exchanged, compared to its average volume of 1,277,298. The firm has a market cap of $6.79 billion, a P/E ratio of 76.17 and a beta of 1.40. The business has a fifty day moving average of $39.86 and a 200 day moving average of $43.06. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13.
Cognex Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be 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 of this dividend is Thursday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.81%. Cognex's payout ratio is presently 57.69%.
Insider Buying and Selling
In related news, CFO Dennis Fehr purchased 6,570 shares of Cognex stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.
Cognex Company 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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