Perigon Wealth Management LLC Has $261,000 Stock Holdings in Cognex Co. (NASDAQ:CGNX)

Perigon Wealth Management LLC trimmed its holdings in shares of Cognex Co. (NASDAQ:CGNX) by 6.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,263 shares of the scientific and technical instruments company’s stock after selling 429 shares during the period. Perigon Wealth Management LLC’s holdings in Cognex were worth $261,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Cognex in the 1st quarter valued at about $25,000. Neo Ivy Capital Management acquired a new stake in Cognex in the 3rd quarter valued at about $30,000. Itau Unibanco Holding S.A. lifted its stake in Cognex by 71.1% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 804 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 334 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in Cognex during the fourth quarter worth approximately $44,000. Finally, Janiczek Wealth Management LLC lifted its position in Cognex by 71.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,295 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 541 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cognex

In related news, EVP Carl Gerst sold 6,782 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $40.54, for a total value of $274,942.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Cognex from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. UBS Group upgraded shares of Cognex from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $42.00 to $54.00 in a research report on Tuesday, March 19th. Truist Financial started coverage on shares of Cognex in a report on Thursday, March 14th. They set a “buy” rating and a $47.00 target price on the stock. Finally, Citigroup raised their target price on shares of Cognex from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cognex currently has an average rating of “Hold” and an average price target of $47.70.

Cognex Stock Performance

Shares of NASDAQ:CGNX opened at $39.21 on Thursday. The firm has a market cap of $6.73 billion, a PE ratio of 59.41 and a beta of 1.49. The firm’s fifty day moving average is $40.04 and its 200-day moving average is $38.90. Cognex Co. has a 52 week low of $34.28 and a 52 week high of $59.51.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $196.70 million for the quarter, compared to analyst estimates of $189.16 million. Cognex had a net margin of 13.52% and a return on equity of 6.86%. Cognex’s revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. Sell-side analysts forecast that Cognex Co. will post 0.44 EPS for the current year.

Cognex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were issued a $0.075 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 0.77%. Cognex’s payout ratio is 45.46%.

Cognex Profile

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.