Olympiad Research LP purchased a new stake in Cognex Co. (NASDAQ:CGNX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,603 shares of the scientific and technical instruments company's stock, valued at approximately $632,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Cognex by 986.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company's stock worth $68,679,000 after acquiring an additional 1,469,961 shares in the last quarter. Swedbank AB acquired a new position in Cognex in the 1st quarter worth approximately $58,502,000. Impax Asset Management Group plc grew its position in Cognex by 32.8% during the 2nd 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. William Blair Investment Management LLC raised its stake in Cognex by 41.4% during the 1st quarter. William Blair Investment Management LLC now owns 3,716,623 shares of the scientific and technical instruments company's stock valued at $157,659,000 after purchasing an additional 1,088,095 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Cognex by 132.0% in the second quarter. Point72 Asset Management L.P. now owns 1,272,640 shares of the scientific and technical instruments company's stock valued at $59,509,000 after purchasing an additional 723,976 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on CGNX. The Goldman Sachs Group dropped their price target on Cognex from $45.00 to $39.00 and set a "sell" rating on the stock in a research report on Friday, August 2nd. StockNews.com raised shares of Cognex from a "sell" rating to a "hold" rating in a research report on Friday, August 9th. Stephens upgraded shares of Cognex from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $45.00 to $55.00 in a research note on Wednesday, October 16th. DA Davidson decreased their target price on shares of Cognex from $41.00 to $39.00 and set a "neutral" rating for the company in a research note on Monday, August 5th. Finally, Vertical Research assumed coverage on Cognex in a report on Tuesday, July 23rd. They set a "buy" rating and a $58.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cognex presently has a consensus rating of "Hold" and a consensus price target of $47.91.
Read Our Latest Analysis on CGNX
Cognex Price Performance
Shares of NASDAQ CGNX traded up $0.45 during trading hours on Thursday, hitting $43.05. 1,483,701 shares of the stock were exchanged, compared to its average volume of 1,287,352. Cognex Co. has a one year low of $34.79 and a one year high of $53.13. The company's 50 day moving average is $39.50 and its 200 day moving average is $42.99. The firm has a market capitalization of $7.38 billion, a P/E ratio of 82.42 and a beta of 1.40.
Cognex Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.74%. This is a boost from Cognex's previous quarterly dividend of $0.08. The ex-dividend date is Thursday, November 14th. Cognex's dividend payout ratio is 57.69%.
Insider Transactions at Cognex
In other Cognex news, CFO Dennis Fehr bought 6,570 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $38.04 per share, for a total transaction of $249,922.80. Following the purchase, the chief financial officer now directly owns 6,570 shares in the company, valued at $249,922.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.
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.
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