Northwest & Ethical Investments L.P. lowered its holdings in Cognex Co. (NASDAQ:CGNX - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 595,533 shares of the scientific and technical instruments company's stock after selling 47,204 shares during the period. Northwest & Ethical Investments L.P. owned about 0.35% of Cognex worth $21,356,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its stake in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company's stock valued at $29,000 after buying an additional 394 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Cognex during the 4th quarter worth $29,000. SRS Capital Advisors Inc. raised its stake in shares of Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after purchasing an additional 295 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Cognex during the third quarter worth about $36,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Cognex in the third quarter valued at about $40,000. Institutional investors and hedge funds own 88.12% of the company's stock.
Cognex Trading Up 2.1 %
CGNX traded up $0.65 during trading hours on Monday, hitting $31.57. The company's stock had a trading volume of 1,490,886 shares, compared to its average volume of 1,204,192. Cognex Co. has a fifty-two week low of $30.04 and a fifty-two week high of $53.13. The company has a 50-day simple moving average of $35.61 and a 200 day simple moving average of $37.76. The firm has a market capitalization of $5.35 billion, a PE ratio of 51.75 and a beta of 1.43.
Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share 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%. Research analysts expect that Cognex Co. will post 0.61 earnings per share for the current fiscal year.
Cognex Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.32 annualized dividend and a yield of 1.01%. Cognex's payout ratio is 52.46%.
Insiders Place Their Bets
In other news, EVP Carl Gerst sold 6,803 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $32.73, for a total value of $222,662.19. Following the sale, the executive vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
CGNX has been the topic of a number of research analyst reports. Hsbc Global Res downgraded Cognex from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Cantor Fitzgerald upgraded shares of Cognex to a "strong-buy" rating in a research note on Friday, December 20th. Stephens reissued an "overweight" rating and set a $55.00 target price on shares of Cognex in a report on Wednesday, March 12th. UBS Group decreased their price target on shares of Cognex from $58.00 to $56.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Finally, Truist Financial reiterated a "hold" rating and set a $37.00 price objective (down previously from $43.00) on shares of Cognex in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $44.83.
Read Our Latest Analysis on Cognex
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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