Weiss Asset Management LP bought a new position in shares of Cognex Co. (NASDAQ:CGNX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,021 shares of the scientific and technical instruments company's stock, valued at approximately $1,256,000.
Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Cognex during the 2nd quarter worth $567,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Cognex by 13.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,677 shares of the scientific and technical instruments company's stock valued at $640,000 after purchasing an additional 1,581 shares during the last quarter. Swedbank AB boosted its position in shares of Cognex by 1.5% in the 2nd quarter. Swedbank AB now owns 1,400,000 shares of the scientific and technical instruments company's stock valued at $65,464,000 after purchasing an additional 20,886 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Cognex by 1.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,309,827 shares of the scientific and technical instruments company's stock worth $61,248,000 after buying an additional 15,871 shares during the last quarter. Finally, Values First Advisors Inc. grew its stake in Cognex by 18.6% during the 2nd quarter. Values First Advisors Inc. now owns 44,349 shares of the scientific and technical instruments company's stock worth $2,074,000 after buying an additional 6,950 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.
Cognex Trading Up 1.6 %
Shares of CGNX traded up $0.60 during mid-day trading on Monday, reaching $38.36. The company had a trading volume of 956,606 shares, compared to its average volume of 1,256,843. Cognex Co. has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The firm has a fifty day simple moving average of $40.00 and a 200-day simple moving average of $42.33. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 72.62 and a beta of 1.39.
Cognex Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Cognex's previous quarterly dividend of $0.08. Cognex's payout ratio is 61.54%.
Insiders Place Their Bets
In other Cognex news, Director Anthony Sun sold 26,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on CGNX shares. Truist Financial lowered Cognex from a "buy" rating to a "hold" rating and dropped their target price for the company from $46.00 to $43.00 in a report on Tuesday, November 5th. Stephens upgraded shares of Cognex from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $45.00 to $55.00 in a research report on Wednesday, October 16th. Finally, Needham & Company LLC reduced their target price on shares of Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Friday, November 1st. One 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, the stock has a consensus rating of "Hold" and a consensus price target of $47.91.
Check Out Our Latest Stock Analysis on CGNX
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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