Public Employees Retirement System of Ohio Sells 7,795 Shares of Cognex Co. (NASDAQ:CGNX)

Public Employees Retirement System of Ohio decreased its stake in shares of Cognex Co. (NASDAQ:CGNXFree Report) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,551 shares of the scientific and technical instruments company’s stock after selling 7,795 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cognex were worth $3,037,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Cognex by 0.5% in the 1st quarter. BlackRock Inc. now owns 17,207,485 shares of the scientific and technical instruments company’s stock worth $852,631,000 after acquiring an additional 87,789 shares during the last quarter. Vanguard Group Inc. raised its stake in Cognex by 1.1% during 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. State Street Corp lifted its position in Cognex by 0.8% during the first 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 purchasing an additional 45,764 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Cognex by 17.8% in the 3rd quarter. Lazard Asset Management LLC now owns 5,536,355 shares of the scientific and technical instruments company’s stock worth $234,962,000 after buying an additional 837,487 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Cognex by 3.0% in the 4th quarter. Alliancebernstein L.P. now owns 5,294,480 shares of the scientific and technical instruments company’s stock valued at $249,423,000 after purchasing an additional 151,776 shares during the last quarter. 89.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. UBS Group raised shares of Cognex from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $54.00 in a research report on Tuesday. Finally, Truist Financial began coverage on Cognex in a research report on Thursday, March 14th. They set a “buy” rating and a $47.00 target price for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cognex currently has an average rating of “Hold” and an average price target of $48.60.

Get Our Latest Research Report on Cognex

Cognex Stock Down 0.2 %

Shares of NASDAQ:CGNX opened at $41.85 on Friday. The business’s 50 day moving average is $38.69 and its 200 day moving average is $39.22. The stock has a market cap of $7.18 billion, a P/E ratio of 63.41 and a beta of 1.48. Cognex Co. has a 52-week low of $34.28 and a 52-week high of $59.51.

Cognex (NASDAQ:CGNXGet Free Report) last announced its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. Cognex had a return on equity of 6.86% and a net margin of 13.52%. The firm had revenue of $196.70 million for the quarter, compared to analyst estimates of $189.16 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was down 17.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cognex Co. will post 0.44 EPS for the current fiscal year.

Cognex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Wednesday, February 28th. Cognex’s dividend payout ratio (DPR) is 45.46%.

Insider Buying and Selling at Cognex

In other Cognex news, EVP Carl Gerst sold 6,782 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $40.54, for a total value of $274,942.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Cognex Company Profile

(Free Report)

Cognex Corporation provides machine vision products that capture and analyze visual information 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

Featured Articles

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNXFree Report).

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.