TCW Group Inc. grew its holdings in Cognex Co. (NASDAQ:CGNX - Free Report) by 19.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 583,150 shares of the scientific and technical instruments company's stock after buying an additional 96,330 shares during the quarter. TCW Group Inc. owned 0.34% of Cognex worth $23,618,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Cognex by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,608,028 shares of the scientific and technical instruments company's stock worth $146,157,000 after buying an additional 175,423 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in Cognex by 8.9% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 3,751,807 shares of the scientific and technical instruments company's stock worth $151,948,000 after acquiring an additional 305,913 shares during the last quarter. M&T Bank Corp increased its stake in Cognex by 6.9% in the 3rd quarter. M&T Bank Corp now owns 83,913 shares of the scientific and technical instruments company's stock valued at $3,399,000 after buying an additional 5,436 shares during the last quarter. MML Investors Services LLC raised its holdings in Cognex by 4.0% during the third quarter. MML Investors Services LLC now owns 12,491 shares of the scientific and technical instruments company's stock worth $506,000 after acquiring an additional 478 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Cognex by 8.2% in the 3rd quarter. Jane Street Group LLC now owns 70,028 shares of the scientific and technical instruments company's stock valued at $2,836,000 after buying an additional 5,280 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.
Insider Activity
In other news, Director Anthony Sun sold 26,000 shares of Cognex 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 completion of the sale, the director now directly owns 26,608 shares of the company's stock, valued at approximately $1,065,118.24. The trade was a 49.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on CGNX. Needham & Company LLC cut their price target on Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a report on Friday, November 1st. Stephens raised Cognex from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $45.00 to $55.00 in a report on Wednesday, October 16th. Finally, Truist Financial lowered shares of Cognex from a "buy" rating to a "hold" rating and reduced their price target for the stock from $46.00 to $43.00 in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $47.91.
View Our Latest Stock Report on CGNX
Cognex Stock Performance
Shares of NASDAQ:CGNX traded down $0.44 during trading on Wednesday, reaching $37.49. The stock had a trading volume of 1,712,857 shares, compared to its average volume of 1,257,540. Cognex Co. has a 52 week low of $34.79 and a 52 week high of $53.13. The firm's fifty day moving average is $39.93 and its 200 day moving average is $42.20. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 72.94 and a beta of 1.39.
Cognex Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were issued a dividend of $0.08 per share. This is a positive change from Cognex's previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Thursday, November 14th. Cognex's dividend payout ratio (DPR) is 61.54%.
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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