Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Holdings in Cognex Co. (NASDAQ:CGNX)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Cognex Co. (NASDAQ:CGNXFree Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,293,956 shares of the scientific and technical instruments company’s stock after selling 54,471 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.75% of Cognex worth $54,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. State of Michigan Retirement System boosted its holdings in shares of Cognex by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 42,253 shares of the scientific and technical instruments company’s stock worth $1,792,000 after buying an additional 1,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Cognex by 34.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,208 shares of the scientific and technical instruments company’s stock worth $560,000 after buying an additional 3,375 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Cognex by 4.2% in the 1st quarter. Park Avenue Securities LLC now owns 11,514 shares of the scientific and technical instruments company’s stock worth $488,000 after buying an additional 468 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Cognex by 94.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 286 shares during the last quarter. Finally, Rise Advisors LLC boosted its holdings in shares of Cognex by 1,239.7% in the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 719 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Stock Up 0.3 %

Shares of CGNX opened at $47.28 on Friday. The business’s 50-day moving average price is $45.90 and its 200-day moving average price is $41.76. The stock has a market cap of $8.12 billion, a PE ratio of 81.52 and a beta of 1.42. Cognex Co. has a twelve month low of $34.28 and a twelve month high of $59.51.

Cognex (NASDAQ:CGNXGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share for the quarter. The company had revenue of $210.80 million for the quarter, compared to analysts’ expectations of $198.14 million. Cognex had a net margin of 11.76% and a return on equity of 6.81%. Analysts expect that Cognex Co. will post 0.46 earnings per share for the current fiscal year.

Cognex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, May 15th. Cognex’s dividend payout ratio (DPR) is 51.72%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of Cognex from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Sanford C. Bernstein boosted their price objective on Cognex from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. HSBC upgraded Cognex from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Tuesday, May 7th. Citigroup boosted their price objective on Cognex from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Robert W. Baird boosted their price objective on Cognex from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.54.

View Our Latest Research Report on CGNX

Cognex 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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