Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Cognex Co. (NASDAQ:CGNX – Get Rating) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,478,606 shares of the scientific and technical instruments company’s stock after selling 17,445 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.84% of Cognex worth $114,976,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CGNX. Amundi Pioneer Asset Management Inc. raised its holdings in Cognex by 5.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 65,186 shares of the scientific and technical instruments company’s stock valued at $3,315,000 after buying an additional 3,657 shares during the period. Morgan Stanley boosted its holdings in Cognex by 32.0% in the second quarter. Morgan Stanley now owns 538,151 shares of the scientific and technical instruments company’s stock worth $45,231,000 after purchasing an additional 130,319 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Cognex by 6.8% during the third quarter. Park Avenue Securities LLC now owns 6,345 shares of the scientific and technical instruments company’s stock valued at $509,000 after acquiring an additional 406 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Cognex by 4.4% during the third quarter. New York State Teachers Retirement System now owns 192,556 shares of the scientific and technical instruments company’s stock valued at $15,447,000 after acquiring an additional 8,069 shares during the period. Finally, Financial Counselors Inc. boosted its holdings in shares of Cognex by 3.1% during the third quarter. Financial Counselors Inc. now owns 30,380 shares of the scientific and technical instruments company’s stock valued at $2,437,000 after acquiring an additional 911 shares during the period. 88.78% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Cognex from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday. StockNews.com initiated coverage on Cognex in a report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised Cognex from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $68.00 in a research note on Friday, February 18th. DA Davidson lowered their price target on Cognex from $85.00 to $80.00 in a research note on Friday, February 18th. Finally, TheStreet cut Cognex from a “b” rating to a “c+” rating in a research report on Tuesday, February 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.70.
Cognex (NASDAQ:CGNX – Get Rating) last released its earnings results on Thursday, February 17th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.12. The firm had revenue of $244.07 million during the quarter, compared to analysts’ expectations of $224.48 million. Cognex had a return on equity of 19.22% and a net margin of 26.99%. During the same period in the prior year, the company earned $0.39 earnings per share. On average, analysts anticipate that Cognex Co. will post 1.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 18th. Shareholders of record on Friday, March 4th were issued a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.34%. Cognex’s payout ratio is currently 16.67%.
Cognex Profile (Get Rating)
Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
- Get a free copy of the StockNews.com research report on Cognex (CGNX)
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