Corebridge Financial Inc. Sells 8,736 Shares of Cognex Co. (NASDAQ:CGNX)

Corebridge Financial Inc. trimmed its position in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,183 shares of the scientific and technical instruments company's stock after selling 8,736 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Cognex worth $6,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CGNX. Advisors Asset Management Inc. lifted its holdings in Cognex by 123.1% in the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 394 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Cognex in the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. grew its position in Cognex by 50.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after buying an additional 295 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Cognex during the third quarter valued at approximately $40,000. Finally, CBIZ Investment Advisory Services LLC increased its holdings in Cognex by 129.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock valued at $36,000 after buying an additional 569 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Cognex from $39.00 to $35.00 and set a "sell" rating for the company in a research report on Tuesday, February 18th. Needham & Company LLC decreased their price objective on Cognex from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Cantor Fitzgerald upgraded Cognex to a "strong-buy" rating in a research note on Friday, December 20th. HSBC cut shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price on the stock. in a research note on Friday, February 21st. Finally, Hsbc Global Res cut shares of Cognex from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $44.83.

Insider Transactions at Cognex

In related news, EVP Carl Gerst sold 6,803 shares of Cognex stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $32.73, for a total transaction of $222,662.19. Following the completion of the transaction, the executive vice president now directly owns 4,566 shares of the company's stock, valued at approximately $149,445.18. The trade was a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company's stock.

Cognex Stock Performance

NASDAQ:CGNX traded up $0.44 during trading hours on Wednesday, reaching $30.45. The stock had a trading volume of 400,486 shares, compared to its average volume of 1,266,350. The stock has a market capitalization of $5.16 billion, a PE ratio of 50.08 and a beta of 1.43. Cognex Co. has a 52 week low of $29.29 and a 52 week high of $53.13. The company has a 50 day moving average price of $34.42 and a two-hundred day moving average price of $37.38.

Cognex (NASDAQ:CGNX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Cognex had a net margin of 11.61% and a return on equity of 5.65%. Equities research analysts predict that Cognex Co. will post 0.61 EPS for the current year.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. Cognex's dividend payout ratio (DPR) is presently 52.46%.

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.