Belpointe Asset Management LLC purchased a new stake in Cognex Co. (NASDAQ:CGNX – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,728 shares of the scientific and technical instruments company’s stock, valued at approximately $81,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Cognex by 1.1% in the third quarter. Vanguard Group Inc. now owns 15,895,177 shares of the scientific and technical instruments company’s stock valued at $658,855,000 after purchasing an additional 180,188 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Cognex by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 11,389,529 shares of the scientific and technical instruments company’s stock worth $472,094,000 after buying an additional 826,402 shares in the last quarter. State Street Corp boosted its stake in shares of Cognex by 0.8% during the 1st quarter. State Street Corp now owns 5,778,896 shares of the scientific and technical instruments company’s stock valued at $445,842,000 after buying an additional 45,764 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Cognex by 16.2% during the 3rd quarter. Alliancebernstein L.P. now owns 5,142,704 shares of the scientific and technical instruments company’s stock valued at $213,165,000 after acquiring an additional 717,206 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Cognex by 25.4% in the third quarter. Lazard Asset Management LLC now owns 4,365,212 shares of the scientific and technical instruments company’s stock worth $180,938,000 after acquiring an additional 883,697 shares during the last quarter. 91.24% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on CGNX shares. Needham & Company LLC boosted their target price on Cognex from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, February 17th. Credit Suisse Group upgraded Cognex from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $41.00 to $44.00 in a report on Thursday, February 23rd. Cowen reduced their target price on shares of Cognex from $50.00 to $48.00 in a research note on Friday, February 17th. Stephens restated an “equal weight” rating and set a $45.00 price target on shares of Cognex in a research note on Tuesday, February 21st. Finally, TheStreet downgraded shares of Cognex from a “b-” rating to a “c” rating in a report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.17.
Insiders Place Their Bets
Cognex Trading Up 1.5 %
Shares of CGNX stock opened at $53.00 on Friday. Cognex Co. has a 1 year low of $40.21 and a 1 year high of $58.12. The firm’s fifty day simple moving average is $48.86 and its 200 day simple moving average is $49.52. The firm has a market capitalization of $9.15 billion, a P/E ratio of 53.00 and a beta of 1.60.
Cognex (NASDAQ:CGNX – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The scientific and technical instruments company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Cognex had a net margin of 18.79% and a return on equity of 11.59%. The business had revenue of $239.43 million during the quarter, compared to analyst estimates of $245.09 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts anticipate that Cognex Co. will post 0.7 EPS for the current fiscal year.
Cognex Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.53%. Cognex’s dividend payout ratio is currently 28.00%.
Cognex Company Profile
Cognex Corp. engages in the provision of machine vision products and solutions. Its products include vision sensors, vision systems, 3D vision systems, barcode readers, barcode verifiers, vision software, and vision tools. Its solutions include alignment, dimensioning, item detection, edge intelligence, logistics barcode reading systems and tunnels, water identification, and tire inspection.
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