Amalgamated Bank Has $2.33 Million Stock Position in Cognex Corporation (NASDAQ:CGNX)

Amalgamated Bank lowered its stake in Cognex Corporation (NASDAQ:CGNX) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,966 shares of the scientific and technical instruments company’s stock after selling 4,039 shares during the quarter. Amalgamated Bank’s holdings in Cognex were worth $2,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CGNX. Vanguard Group Inc. boosted its position in Cognex by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 18,479,828 shares of the scientific and technical instruments company’s stock worth $662,687,000 after acquiring an additional 296,251 shares during the period. William Blair Investment Management LLC lifted its position in shares of Cognex by 27.3% in the fourth quarter. William Blair Investment Management LLC now owns 5,840,117 shares of the scientific and technical instruments company’s stock worth $209,427,000 after purchasing an additional 1,253,996 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Cognex by 13.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,820,394 shares of the scientific and technical instruments company’s stock worth $136,999,000 after purchasing an additional 461,724 shares during the period. Lazard Asset Management LLC grew its position in Cognex by 1.1% during the fourth quarter. Lazard Asset Management LLC now owns 2,256,640 shares of the scientific and technical instruments company’s stock valued at $80,923,000 after purchasing an additional 25,492 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Cognex in the 4th quarter valued at approximately $79,797,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Stock Down 0.9%

NASDAQ:CGNX opened at $32.50 on Friday. The stock’s fifty day simple moving average is $30.23 and its 200-day simple moving average is $32.11. The firm has a market capitalization of $5.46 billion, a P/E ratio of 47.79 and a beta of 1.47. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $53.13.

Cognex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Thursday, May 15th. Cognex’s dividend payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CGNX shares. Citigroup cut their price target on Cognex from $37.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group raised their price objective on shares of Cognex from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Thursday, June 12th. UBS Group reduced their target price on shares of Cognex from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. TD Cowen raised shares of Cognex from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, April 28th. Finally, Truist Financial cut their price target on shares of Cognex from $37.00 to $29.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cognex has an average rating of “Hold” and an average price target of $39.17.

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.