Cognex Co. (NASDAQ:CGNX) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina reduced its stake in shares of Cognex Co. (NASDAQ:CGNXFree Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,613 shares of the scientific and technical instruments company’s stock after selling 1,430 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Cognex were worth $3,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Cognex by 3.6% in the third quarter. Victory Capital Management Inc. now owns 30,616 shares of the scientific and technical instruments company’s stock valued at $1,299,000 after purchasing an additional 1,076 shares during the period. Amalgamated Bank increased its stake in Cognex by 1.3% in the third quarter. Amalgamated Bank now owns 114,125 shares of the scientific and technical instruments company’s stock valued at $4,843,000 after purchasing an additional 1,490 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Cognex by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,233,839 shares of the scientific and technical instruments company’s stock valued at $52,364,000 after purchasing an additional 12,167 shares during the period. Van ECK Associates Corp increased its stake in Cognex by 3.3% in the third quarter. Van ECK Associates Corp now owns 23,524 shares of the scientific and technical instruments company’s stock valued at $998,000 after purchasing an additional 760 shares during the period. Finally, Pathstone Family Office LLC increased its stake in Cognex by 40.3% in the third quarter. Pathstone Family Office LLC now owns 14,456 shares of the scientific and technical instruments company’s stock valued at $628,000 after purchasing an additional 4,151 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on CGNX. Truist Financial restated a “buy” rating and issued a $50.00 price objective (up from $47.00) on shares of Cognex in a research note on Tuesday, May 7th. Sanford C. Bernstein lifted their target price on shares of Cognex from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Stephens lifted their target price on shares of Cognex from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. HSBC raised shares of Cognex from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Tuesday, May 7th. Finally, StockNews.com downgraded shares of Cognex from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.15.

Read Our Latest Stock Report on Cognex

Cognex Trading Up 3.1 %

CGNX stock opened at $43.59 on Thursday. Cognex Co. has a 52 week low of $34.28 and a 52 week high of $59.51. The company has a market cap of $7.48 billion, a P/E ratio of 75.16 and a beta of 1.45. The company’s 50-day moving average price is $43.39 and its 200 day moving average price is $40.58.

Cognex (NASDAQ:CGNXGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share (EPS) for the quarter. Cognex had a net margin of 11.76% and a return on equity of 6.81%. The company had revenue of $210.80 million for the quarter, compared to the consensus estimate of $198.14 million. On average, equities research analysts expect that Cognex Co. will post 0.44 earnings per share for the current year.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, May 15th. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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