Disciplined Growth Investors Inc. MN boosted its position in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,751,807 shares of the scientific and technical instruments company's stock after buying an additional 305,913 shares during the quarter. Cognex makes up approximately 2.9% of Disciplined Growth Investors Inc. MN's holdings, making the stock its 10th largest holding. Disciplined Growth Investors Inc. MN owned about 2.19% of Cognex worth $151,948,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its holdings in Cognex by 122.7% during the third quarter. Point72 Asset Management L.P. now owns 2,834,755 shares of the scientific and technical instruments company's stock worth $114,808,000 after buying an additional 1,562,115 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Cognex by 32.8% in the second quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company's stock worth $237,812,000 after purchasing an additional 1,259,116 shares in the last quarter. Railway Pension Investments Ltd acquired a new position in shares of Cognex during the 2nd quarter worth about $27,196,000. Chevy Chase Trust Holdings LLC grew 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 purchasing an additional 480,143 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in Cognex by 116.0% during the third quarter. Ceredex Value Advisors LLC now owns 789,550 shares of the scientific and technical instruments company's stock worth $31,977,000 after buying an additional 423,950 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CGNX has been the topic of several research analyst reports. Needham & Company LLC dropped 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. Truist Financial lowered shares of Cognex from a "buy" rating to a "hold" rating and dropped their price objective for the company from $46.00 to $43.00 in a research report on Tuesday, November 5th. Finally, Stephens upgraded shares of Cognex from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $45.00 to $55.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Cognex presently has a consensus rating of "Hold" and a consensus price target of $47.91.
View Our Latest Analysis on Cognex
Insider Buying and Selling
In other news, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the sale, the director now directly owns 26,608 shares of the company's stock, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.
Cognex Trading Up 0.4 %
Cognex stock traded up $0.16 during trading hours on Tuesday, reaching $38.52. 349,464 shares of the stock were exchanged, compared to its average volume of 1,252,921. Cognex Co. has a twelve month low of $34.79 and a twelve month high of $53.13. The company has a market cap of $6.61 billion, a P/E ratio of 73.77 and a beta of 1.39. The stock has a 50 day moving average of $39.96 and a two-hundred day moving average of $42.27.
Cognex Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Cognex's previous quarterly dividend of $0.08. Cognex's payout ratio is 61.54%.
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.
Read More
Before you consider Cognex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cognex wasn't on the list.
While Cognex currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
