Cognex Co. (NASDAQ:CGNX) Shares Purchased by Swedbank AB

Swedbank AB increased its stake in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 21.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,700,000 shares of the scientific and technical instruments company's stock after acquiring an additional 300,000 shares during the period. Swedbank AB owned approximately 0.99% of Cognex worth $68,850,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $68,679,000 after buying an additional 1,469,961 shares during the period. Impax Asset Management Group plc increased its holdings in shares of 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 valued at $237,812,000 after acquiring an additional 1,259,116 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Cognex by 132.0% during the 2nd 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 during the period. Railway Pension Investments Ltd bought a new stake in Cognex during the 2nd quarter valued at approximately $27,196,000. Finally, Chevy Chase Trust Holdings LLC boosted its stake in Cognex by 30.5% during the 2nd 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 during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CGNX has been the subject of several analyst reports. Truist Financial downgraded Cognex from a "buy" rating to a "hold" rating and cut their target price for the stock from $46.00 to $43.00 in a research report on Tuesday, November 5th. DA Davidson lowered 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. Stephens upgraded shares of Cognex from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of Cognex from $45.00 to $39.00 and set a "sell" rating for the company in a research note on Friday, August 2nd. Finally, Needham & Company LLC dropped their price objective on shares of Cognex from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. One equities 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 data from MarketBeat, Cognex currently has an average rating of "Hold" and a consensus target price of $47.91.

Insider Buying and Selling at Cognex

In other Cognex news, CFO Dennis Fehr bought 6,570 shares of Cognex stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the acquisition, the chief financial officer now directly owns 6,570 shares in the company, valued at approximately $249,922.80. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony Sun sold 26,000 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the sale, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. This represents a 49.42 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Cognex Price Performance

Shares of CGNX stock traded up $0.86 during trading hours on Monday, reaching $41.53. 1,150,062 shares of the company traded hands, compared to its average volume of 1,271,070. The firm has a 50-day moving average price of $39.97 and a 200 day moving average price of $42.89. The company has a market cap of $7.12 billion, a P/E ratio of 78.21 and a beta of 1.40. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13.

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 $0.08 dividend. This is a positive change from Cognex's previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, November 14th. Cognex's payout ratio is currently 61.54%.

Cognex Company Profile

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.