Cognex Co. (NASDAQ:CGNX) Stake Boosted by Bank of Montreal Can

Bank of Montreal Can lifted its holdings in shares of Cognex Co. (NASDAQ:CGNXGet Rating) by 21.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,599 shares of the scientific and technical instruments company’s stock after buying an additional 35,134 shares during the period. Bank of Montreal Can owned approximately 0.12% of Cognex worth $9,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Meeder Asset Management Inc. acquired a new position in shares of Cognex in the first quarter worth $51,000. Tobam bought a new stake in Cognex in the second quarter worth $30,000. Ceredex Value Advisors LLC boosted its holdings in Cognex by 45.5% in the first quarter. Ceredex Value Advisors LLC now owns 800 shares of the scientific and technical instruments company’s stock worth $62,000 after purchasing an additional 250 shares in the last quarter. Prospera Financial Services Inc bought a new stake in Cognex in the first quarter worth $62,000. Finally, JJJ Advisors Inc. lifted its stake in shares of Cognex by 391.7% in the first quarter. JJJ Advisors Inc. now owns 1,013 shares of the scientific and technical instruments company’s stock valued at $78,000 after buying an additional 807 shares during the period. 90.15% of the stock is currently owned by institutional investors and hedge funds.

Cognex Stock Performance

NASDAQ:CGNX opened at $49.17 on Friday. The firm’s fifty day moving average is $45.09 and its 200-day moving average is $45.65. Cognex Co. has a 52 week low of $40.21 and a 52 week high of $80.30. The firm has a market cap of $8.50 billion, a P/E ratio of 40.64 and a beta of 1.59.

Cognex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.07 dividend. This is a positive change from Cognex’s previous quarterly dividend of $0.07. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, November 17th. Cognex’s dividend payout ratio is currently 23.14%.

Analyst Ratings Changes

Several research firms have recently weighed in on CGNX. Raymond James dropped their price objective on shares of Cognex from $75.00 to $65.00 in a report on Sunday, November 6th. Morgan Stanley decreased their price target on shares of Cognex from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 12th. Cowen cut shares of Cognex from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $55.00 to $50.00 in a research note on Tuesday. Needham & Company LLC raised their price objective on shares of Cognex from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Finally, Stephens lowered shares of Cognex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $80.00 to $45.00 in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.92.

Cognex Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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