New York State Teachers Retirement System continued to hold its stake in shares of Cognex Corp. (NASDAQ:CGNX) during the second quarter, Holdings Channel reports. The fund owned 157,628 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Cognex Corp. were worth $6,794,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Cognex Corp. during the fourth quarter valued at $36,292,000. AXA boosted its position in Cognex Corp. by 156.4% in the first quarter. AXA now owns 431,884 shares of the company’s stock valued at $16,822,000 after buying an additional 263,460 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in 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 valued at $15,308,000 after buying an additional 193,027 shares during the last quarter. Hermes Investment Management Ltd. boosted its position in Cognex Corp. by 16.8% in the second quarter. Hermes Investment Management Ltd. now owns 1,234,645 shares of the company’s stock valued at $53,213,000 after buying an additional 177,816 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in Cognex Corp. by 44.0% in the first quarter. Pictet Asset Management Ltd. now owns 392,877 shares of the company’s stock valued at $14,540,000 after buying an additional 119,964 shares during the last quarter. 91.42% of the stock is owned by hedge funds and other institutional investors.
Cognex Corp. (NASDAQ:CGNX) traded up 0.40% during midday trading on Friday, hitting $52.86. 438,448 shares of the stock traded hands. The stock has a 50-day moving average of $50.25 and a 200 day moving average of $43.71. Cognex Corp. has a 52-week low of $28.01 and a 52-week high of $53.46. The firm has a market cap of $4.50 billion, a PE ratio of 25.47 and a beta of 1.55.
Cognex Corp. (NASDAQ:CGNX) last posted its earnings results on Monday, August 1st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07. Cognex Corp. had a net margin of 40.22% and a return on equity of 11.44%. The firm earned $147.27 million during the quarter, compared to analysts’ expectations of $138.11 million. During the same period in the previous year, the business posted $0.49 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast 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. Investors of record on Friday, September 2nd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Wednesday, August 31st. Cognex Corp.’s dividend payout ratio is currently 14.49%.
CGNX has been the subject of several research analyst reports. Needham & Company LLC raised their target price on shares of Cognex Corp. from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Sanford C. Bernstein initiated coverage on shares of Cognex Corp. in a research note on Monday, June 6th. They set a “market perform” rating and a $40.10 target price for the company. Credit Agricole SA raised their target price on shares of 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 shares of Cognex Corp. from a “buy” rating to a “hold” rating and set a $45.00 target price for the company. in a research note on Tuesday, June 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $46.90.
In related news, CFO Richard Morin sold 1,100 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 3,098 shares in the company, valued at approximately $155,984.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey Benjamin Miller sold 20,000 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $990,200. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.
About Cognex Corp.
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.