Advisors Asset Management Inc. reduced its position in Cognex Corp. (NASDAQ:CGNX) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 11,412 shares of the company’s stock after selling 362 shares during the period. Advisors Asset Management Inc.’s holdings in Cognex Corp. were worth $492,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Cognex Corp. by 0.5% in the first quarter. State Street Corp now owns 2,150,547 shares of the company’s stock worth $83,765,000 after buying an additional 9,905 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of Cognex Corp. by 10.2% in the first quarter. BlackRock Group LTD now owns 55,664 shares of the company’s stock worth $2,168,000 after buying an additional 5,164 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Cognex Corp. by 18.3% in the first quarter. BlackRock Inc. now owns 36,737 shares of the company’s stock worth $1,431,000 after buying an additional 5,684 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Cognex Corp. by 96.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 393,027 shares of the company’s stock worth $15,308,000 after buying an additional 193,027 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Cognex Corp. by 554.3% in the first quarter. Barclays PLC now owns 16,699 shares of the company’s stock worth $635,000 after buying an additional 14,147 shares in the last quarter. 91.42% of the stock is owned by institutional investors.
Shares of Cognex Corp. (NASDAQ:CGNX) traded up 0.21% during trading on Wednesday, reaching $52.30. The company had a trading volume of 127,950 shares. The firm has a 50 day moving average price of $50.00 and a 200 day moving average price of $43.48. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 25.20 and a beta of 1.55. Cognex Corp. has a 12 month low of $28.01 and a 12 month high of $53.45.
Cognex Corp. (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The company earned $147.27 million during the quarter, compared to analysts’ expectations of $138.11 million. Cognex Corp. had a return on equity of 11.44% and a net margin of 40.22%. Cognex Corp.’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. Analysts predict that Cognex Corp. will post $1.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, August 31st. Cognex Corp.’s payout ratio is 14.49%.
Several equities analysts recently weighed in on CGNX shares. Sanford C. Bernstein started coverage on Cognex Corp. in a research report on Monday, June 6th. They set a “market perform” rating and a $40.10 price objective for the company. Canaccord Genuity cut Cognex Corp. from a “buy” rating to a “hold” rating and set a $45.00 price objective for the company. in a research report on Tuesday, June 14th. They noted that the move was a valuation call. Needham & Company LLC boosted their price objective on Cognex Corp. from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, Credit Agricole SA boosted their price objective on Cognex Corp. from $37.00 to $55.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.90.
In related news, CFO Richard Morin sold 1,100 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $50.35, for a total value of $55,385.00. Following the completion of the sale, the chief financial officer now directly owns 3,098 shares in the company, valued at approximately $155,984.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Willett sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $47.93, for a total transaction of $5,991,250.00. Following the completion of the sale, the chief executive officer now owns 25,000 shares of the company’s stock, valued at $1,198,250. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.
Cognex Corp. Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Corp. (NASDAQ:CGNX).
Receive News & Ratings for Cognex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.