Advisors Asset Management Inc. Sells 2,317 Shares of Cognex Co. (NASDAQ:CGNX)

Advisors Asset Management Inc. reduced its stake in Cognex Co. (NASDAQ:CGNXGet Rating) by 16.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,068 shares of the scientific and technical instruments company’s stock after selling 2,317 shares during the period. Advisors Asset Management Inc.’s holdings in Cognex were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Walleye Capital LLC bought a new stake in shares of Cognex in the second quarter valued at approximately $1,180,000. Lmcg Investments LLC lifted its stake in Cognex by 28.9% during the second quarter. Lmcg Investments LLC now owns 10,695 shares of the scientific and technical instruments company’s stock worth $455,000 after purchasing an additional 2,401 shares during the last quarter. Texas Permanent School Fund lifted its stake in Cognex by 0.5% during the second quarter. Texas Permanent School Fund now owns 125,932 shares of the scientific and technical instruments company’s stock worth $5,355,000 after purchasing an additional 590 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Cognex during the second quarter worth $1,747,000. Finally, M&T Bank Corp lifted its stake in Cognex by 50.0% during the second quarter. M&T Bank Corp now owns 64,234 shares of the scientific and technical instruments company’s stock worth $1,993,000 after purchasing an additional 21,419 shares during the last quarter. 90.15% of the stock is currently owned by institutional investors.

Cognex Trading Down 2.4 %

Shares of Cognex stock opened at $47.74 on Friday. The business has a 50-day moving average price of $44.66 and a two-hundred day moving average price of $46.04. Cognex Co. has a 1-year low of $40.21 and a 1-year high of $80.33. The company has a market cap of $8.26 billion, a P/E ratio of 39.45 and a beta of 1.59.

Cognex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.07 per share. This is an increase from Cognex’s previous quarterly dividend of $0.07. This represents a $0.28 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, November 17th. Cognex’s dividend payout ratio (DPR) is presently 21.49%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CGNX shares. Stephens cut Cognex from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $80.00 to $45.00 in a research note on Wednesday, August 3rd. Raymond James lowered their price target on shares of Cognex from $75.00 to $65.00 in a report on Sunday, November 6th. Needham & Company LLC upped their price target on shares of Cognex from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Cowen lowered their price target on shares of Cognex from $75.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. Finally, Daiwa Capital Markets lowered their price target on shares of Cognex to $54.00 in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.75.

Cognex Company 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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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