Deutsche Bank AG Raises Stake in Cognex Co. (NASDAQ:CGNX)

Deutsche Bank AG lifted its position in shares of Cognex Co. (NASDAQ:CGNXGet Rating) by 31.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 720,911 shares of the scientific and technical instruments company’s stock after buying an additional 171,265 shares during the quarter. Deutsche Bank AG owned approximately 0.42% of Cognex worth $30,652,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CGNX. Arizona State Retirement System grew its holdings in shares of Cognex by 2.3% during the first quarter. Arizona State Retirement System now owns 49,213 shares of the scientific and technical instruments company’s stock worth $3,797,000 after buying an additional 1,102 shares in the last quarter. abrdn plc grew its holdings in shares of Cognex by 12.9% during the first quarter. abrdn plc now owns 14,884 shares of the scientific and technical instruments company’s stock worth $1,149,000 after buying an additional 1,700 shares in the last quarter. Lowe Brockenbrough & Co. Inc. grew its holdings in shares of Cognex by 48.1% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 4,000 shares of the scientific and technical instruments company’s stock worth $309,000 after buying an additional 1,300 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in Cognex in the first quarter valued at approximately $62,000. Finally, Russell Investments Group Ltd. grew its holdings in Cognex by 7.9% in the first quarter. Russell Investments Group Ltd. now owns 77,632 shares of the scientific and technical instruments company’s stock valued at $6,004,000 after purchasing an additional 5,672 shares during the period. 90.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stephens downgraded shares of Cognex from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $80.00 to $45.00 in a report on Wednesday, August 3rd. JPMorgan Chase & Co. downgraded shares of Cognex from a “neutral” rating to an “underweight” rating and set a $40.00 target price for the company. in a report on Friday, August 12th. Daiwa Capital Markets decreased their price objective on shares of Cognex to $54.00 in a research note on Tuesday, August 9th. Cowen downgraded shares of Cognex from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $55.00 to $50.00 in a research note on Tuesday. Finally, Needham & Company LLC boosted their price objective on shares of Cognex from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cognex has a consensus rating of “Hold” and an average price target of $52.92.

Cognex Trading Up 3.5 %

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

Cognex Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This is a boost from Cognex’s previous quarterly dividend of $0.07. This represents a $0.28 annualized dividend and a yield of 0.57%. Cognex’s dividend payout ratio is currently 23.14%.

About Cognex

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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

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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