Bank of Montreal Can bought a new stake in Cognex Corp. (NASDAQ:CGNX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 169,149 shares of the company’s stock, valued at approximately $7,290,000.
A number of other large investors have also bought and sold shares of CGNX. Norges Bank acquired a new stake in Cognex Corp. during the fourth quarter valued at $36,292,000. Aperio Group LLC boosted its stake in shares of Cognex Corp. by 21.7% in the first quarter. Aperio Group LLC now owns 12,318 shares of the company’s stock worth $480,000 after buying an additional 2,194 shares in the last quarter. Ngam Advisors L.P. boosted its stake in shares of Cognex Corp. by 16.9% in the first quarter. Ngam Advisors L.P. now owns 39,312 shares of the company’s stock worth $1,532,000 after buying an additional 5,671 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Cognex Corp. by 15.1% in the first quarter. TIAA CREF Investment Management LLC now owns 328,003 shares of the company’s stock worth $12,776,000 after buying an additional 43,019 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in shares of Cognex Corp. by 5.6% in the first quarter. Teachers Advisors Inc. now owns 71,755 shares of the company’s stock worth $2,795,000 after buying an additional 3,791 shares in the last quarter. Hedge funds and other institutional investors own 91.42% of the company’s stock.
Cognex Corp. (NASDAQ:CGNX) traded down 0.10% on Friday, hitting $51.87. The stock had a trading volume of 391,945 shares. Cognex Corp. has a 12-month low of $28.01 and a 12-month high of $53.46. The company’s 50 day moving average price is $50.54 and its 200-day moving average price is $44.14. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 25.00 and a beta of 1.47.
Cognex Corp. (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. Cognex Corp. had a return on equity of 11.44% and a net margin of 40.22%. The firm earned $147.27 million during the quarter, compared to analyst estimates of $138.11 million. During the same quarter last year, the firm earned $0.49 EPS. Cognex Corp.’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Cognex Corp. will post $1.39 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, August 31st. Cognex Corp.’s dividend payout ratio is presently 14.49%.
CGNX has been the subject of a number of research reports. Needham & Company LLC boosted their price objective on Cognex Corp. from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Credit Agricole SA boosted their price objective on Cognex Corp. from $37.00 to $55.00 and gave the company an “underperform” rating in a research note on Tuesday, August 2nd. Finally, 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 note on Tuesday, June 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Cognex Corp. presently has a consensus rating of “Hold” and a consensus price target of $46.90.
In other Cognex Corp. news, Director Theodor Krantz sold 20,000 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the transaction, the director now owns 25,850 shares of the company’s stock, valued at approximately $1,292,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard Morin sold 1,100 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $50.35, for a total value of $55,385.00. Following the transaction, the chief financial officer now directly owns 3,098 shares in the company, valued at approximately $155,984.30. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.
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.
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