New York State Teachers Retirement System Lowers Stock Holdings in Cognex Corporation (NASDAQ:CGNX)

New York State Teachers Retirement System lowered its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,518 shares of the scientific and technical instruments company’s stock after selling 15,600 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Cognex worth $5,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Cognex during the fourth quarter worth about $29,000. Farther Finance Advisors LLC boosted its holdings in Cognex by 439.4% in the 1st quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 791 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cognex by 155.3% in the 1st quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 646 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Cognex by 129.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 569 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Cognex by 105.5% in the 1st quarter. UMB Bank n.a. now owns 1,280 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cognex Price Performance

Shares of Cognex stock opened at $32.50 on Monday. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $53.13. The company has a market capitalization of $5.46 billion, a P/E ratio of 47.79 and a beta of 1.47. The business has a 50 day moving average price of $30.23 and a 200 day moving average price of $32.08.

Cognex Dividend Announcement

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

Wall Street Analysts Forecast Growth

CGNX has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on Cognex from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, June 16th. Needham & Company LLC lifted their price objective on Cognex from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. The Goldman Sachs Group lifted their price objective on Cognex from $29.00 to $32.00 and gave the company a “sell” rating in a report on Thursday, June 12th. Citigroup lowered their price objective on Cognex from $37.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, TD Cowen raised Cognex from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.