Cognex Co. (NASDAQ:CGNX) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc lessened its holdings in Cognex Co. (NASDAQ:CGNX - Free Report) by 46.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,700 shares of the scientific and technical instruments company's stock after selling 40,800 shares during the quarter. Polar Capital Holdings Plc's holdings in Cognex were worth $1,711,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CGNX. SBI Securities Co. Ltd. acquired a new position in shares of Cognex in the 4th quarter valued at $29,000. SRS Capital Advisors Inc. raised its position in Cognex by 50.0% in the 4th 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 during the last quarter. CBIZ Investment Advisory Services LLC raised its position 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 during the last quarter. Principal Securities Inc. grew its holdings in shares of 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 worth $38,000 after buying an additional 350 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Cognex by 30.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock worth $48,000 after buying an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

Insider Transactions at Cognex

In related news, EVP Carl Gerst sold 6,803 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 4,566 shares of the company's stock, valued at approximately $149,445.18. This represents a 59.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company's stock.

Cognex Trading Down 0.1%

Shares of NASDAQ:CGNX traded down $0.02 during trading on Tuesday, hitting $30.97. 1,175,213 shares of the stock were exchanged, compared to its average volume of 1,562,650. The company has a fifty day moving average price of $28.02 and a two-hundred day moving average price of $34.16. The company has a market cap of $5.20 billion, a PE ratio of 50.77 and a beta of 1.45. Cognex Co. has a 12-month low of $22.67 and a 12-month high of $53.13.

Cognex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, May 15th. Cognex's dividend payout ratio (DPR) is 47.06%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CGNX. Stephens reissued an "overweight" rating and set a $55.00 price target on shares of Cognex in a report on Wednesday, March 12th. The Goldman Sachs Group lowered their price target on Cognex from $33.00 to $29.00 and set a "sell" rating on the stock in a report on Tuesday, May 6th. UBS Group lowered their price target on Cognex from $56.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Truist Financial lowered their price target on Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Finally, DA Davidson lowered their price target on Cognex from $35.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $39.17.

About Cognex

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.