Algert Global LLC Invests $2.93 Million in Cognex Co. (NASDAQ:CGNX)

Algert Global LLC acquired a new stake in shares of Cognex Co. (NASDAQ:CGNX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 81,797 shares of the scientific and technical instruments company's stock, valued at approximately $2,933,000.

Several other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Cognex during the 4th quarter valued at approximately $29,000. SRS Capital Advisors Inc. grew its holdings in shares of Cognex by 50.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after purchasing an additional 295 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Cognex in the third quarter worth $40,000. CBIZ Investment Advisory Services LLC raised its stake in Cognex by 129.9% during the fourth 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, Principal Securities Inc. lifted its position in Cognex by 50.2% during the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 350 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CGNX shares. Truist Financial reduced their target price 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. UBS Group decreased their price objective on Cognex from $56.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Stephens reiterated an "overweight" rating and issued a $55.00 target price on shares of Cognex in a report on Wednesday, March 12th. Needham & Company LLC decreased their price target on Cognex from $41.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup dropped their price objective on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have issued 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.com, the stock currently has an average rating of "Hold" and an average target price of $39.17.

Insider Activity

In other news, EVP Carl Gerst sold 6,803 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $32.73, for a total value of $222,662.19. Following the completion of the transaction, the executive vice president now directly owns 4,566 shares of the company's stock, valued at approximately $149,445.18. The trade was a 59.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company's stock.

Cognex Price Performance

Shares of NASDAQ:CGNX traded up $0.05 during trading on Friday, reaching $29.47. 2,988,050 shares of the company were exchanged, compared to its average volume of 1,546,503. The firm has a market capitalization of $4.95 billion, a PE ratio of 48.31 and a beta of 1.45. The business's fifty day simple moving average is $28.13 and its 200-day simple moving average is $34.56. Cognex Co. has a 12-month low of $22.67 and a 12-month high of $53.13.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Cognex had a net margin of 11.61% and a return on equity of 5.65%. On average, sell-side analysts anticipate that Cognex Co. will post 0.61 EPS for the current fiscal year.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, May 15th. Cognex's dividend payout ratio (DPR) is 47.06%.

Cognex Company 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.