Raymond James & Associates lifted its holdings in Cognex Co. (NASDAQ:CGNX - Free Report) by 25.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 474,163 shares of the scientific and technical instruments company's stock after buying an additional 95,063 shares during the period. Raymond James & Associates owned about 0.28% of Cognex worth $19,204,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CGNX. Van ECK Associates Corp raised its holdings in Cognex by 38.4% during the 1st quarter. Van ECK Associates Corp now owns 64,855 shares of the scientific and technical instruments company's stock valued at $2,751,000 after buying an additional 17,978 shares during the period. Vanguard Group Inc. lifted its position in shares of Cognex by 1.1% during the first quarter. Vanguard Group Inc. now owns 17,522,549 shares of the scientific and technical instruments company's stock worth $743,307,000 after purchasing an additional 188,485 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Cognex by 153.6% during the first quarter. BNP Paribas Financial Markets now owns 134,516 shares of the scientific and technical instruments company's stock valued at $5,706,000 after purchasing an additional 81,467 shares during the period. Jennison Associates LLC grew its holdings in shares of Cognex by 30.5% in the first quarter. Jennison Associates LLC now owns 870,822 shares of the scientific and technical instruments company's stock worth $36,940,000 after purchasing an additional 203,684 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Cognex by 29.0% in the first quarter. Nordea Investment Management AB now owns 2,663,900 shares of the scientific and technical instruments company's stock worth $113,722,000 after purchasing an additional 598,207 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CFO Dennis Fehr purchased 6,570 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, with a total value of $249,922.80. Following the completion of the acquisition, the chief financial officer now owns 6,570 shares of the company's stock, valued at approximately $249,922.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Dennis Fehr purchased 6,570 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price 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 $249,922.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dianne M. Parrotte acquired 2,000 shares of the firm's stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the acquisition, the director now owns 11,340 shares of the company's stock, valued at approximately $437,950.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Vertical Research began coverage on shares of Cognex in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $58.00 target price on the stock. Truist Financial reduced their price objective on Cognex from $55.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. DA Davidson lowered their target price on Cognex from $41.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, August 5th. The Goldman Sachs Group cut their price target on Cognex from $45.00 to $39.00 and set a "sell" rating on the stock in a research note on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on shares of Cognex from $46.00 to $42.00 and set a "neutral" rating for the company in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.00.
Read Our Latest Analysis on Cognex
Cognex Price Performance
NASDAQ:CGNX traded up $0.15 during trading hours on Friday, hitting $38.84. 2,022,381 shares of the company were exchanged, compared to its average volume of 1,277,412. Cognex Co. has a 52-week low of $34.28 and a 52-week high of $53.13. The company's 50 day moving average price is $39.32 and its 200-day moving average price is $42.95. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 66.97 and a beta of 1.41.
Cognex (NASDAQ:CGNX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. Cognex had a return on equity of 4.97% and a net margin of 9.29%. The business had revenue of $239.00 million for the quarter, compared to the consensus estimate of $240.33 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Cognex Co. will post 0.44 earnings per share for the current year.
Cognex Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.77%. Cognex's dividend payout ratio (DPR) is presently 51.72%.
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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