WCM Investment Management LLC reduced its holdings in Cognex Co. (NASDAQ:CGNX - Free Report) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,143 shares of the scientific and technical instruments company's stock after selling 58,722 shares during the quarter. WCM Investment Management LLC owned about 0.21% of Cognex worth $14,181,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its position in shares of Cognex by 4.9% during the first quarter. Sei Investments Co. now owns 209,304 shares of the scientific and technical instruments company's stock valued at $8,879,000 after buying an additional 9,748 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in Cognex during the first quarter worth approximately $259,000. ProShare Advisors LLC lifted its holdings in shares of Cognex by 13.4% in the 1st quarter. ProShare Advisors LLC now owns 209,091 shares of the scientific and technical instruments company's stock worth $8,870,000 after acquiring an additional 24,675 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Cognex by 45.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,768 shares of the scientific and technical instruments company's stock valued at $4,487,000 after buying an additional 33,256 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Cognex by 9.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 188,607 shares of the scientific and technical instruments company's stock worth $8,001,000 after purchasing an additional 16,715 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.
Cognex Trading Down 1.6 %
NASDAQ CGNX traded down $0.67 on Tuesday, reaching $42.19. 670,931 shares of the company were exchanged, compared to its average volume of 1,282,190. Cognex Co. has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The stock has a market capitalization of $7.24 billion, a P/E ratio of 82.42 and a beta of 1.40. The business's fifty day moving average price is $39.62 and its 200 day moving average price is $43.06.
Cognex Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. This is a boost from Cognex's previous quarterly dividend of $0.08. Cognex's dividend payout ratio is presently 57.69%.
Insider Activity
In related news, CFO Dennis Fehr acquired 6,570 shares of Cognex stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the purchase, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on CGNX shares. StockNews.com upgraded shares of Cognex from a "sell" rating to a "hold" rating in a research note on Friday, August 9th. DA Davidson lowered their price target on shares of Cognex from $41.00 to $39.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. Needham & Company LLC cut their price objective on shares of Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a report on Friday, November 1st. The Goldman Sachs Group dropped their target price on Cognex from $45.00 to $39.00 and set a "sell" rating on the stock in a research report on Friday, August 2nd. Finally, Vertical Research initiated coverage on Cognex in a report on Tuesday, July 23rd. They issued a "buy" rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $47.91.
Check Out Our Latest Report 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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