Bank of America Corp DE trimmed its holdings in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 45.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,475 shares of the scientific and technical instruments company's stock after selling 245,800 shares during the period. Bank of America Corp DE owned about 0.17% of Cognex worth $10,596,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Cognex in the fourth quarter valued at about $29,000. SRS Capital Advisors Inc. raised its holdings in shares of 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 worth $32,000 after purchasing an additional 295 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in Cognex by 129.9% in 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 during the last quarter. Principal Securities Inc. grew its holdings 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 period. Finally, Global Retirement Partners LLC increased its position in Cognex by 30.8% in 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. 88.12% of the stock is owned by hedge funds and other institutional investors.
Cognex Stock Up 3.4%
NASDAQ:CGNX traded up $1.00 during trading hours on Tuesday, hitting $30.72. 1,410,336 shares of the company's stock traded hands, compared to its average volume of 1,577,239. The business's fifty day simple moving average is $27.86 and its two-hundred day simple moving average is $33.77. The firm has a market cap of $5.16 billion, a P/E ratio of 50.36 and a beta of 1.45. Cognex Co. has a 52 week low of $22.67 and a 52 week high of $53.13.
Cognex Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, May 15th. Cognex's payout ratio is 47.06%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on CGNX. HSBC cut Cognex from a "buy" rating to a "hold" rating and set a $33.00 price target on the stock. in a research report on Friday, February 21st. TD Cowen upgraded 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. The Goldman Sachs Group reduced their target price on shares of Cognex from $33.00 to $29.00 and set a "sell" rating for the company in a research note on Tuesday, May 6th. Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Finally, Robert W. Baird reduced their price objective on shares of Cognex from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $39.17.
View Our Latest Analysis on Cognex
Cognex Company 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.
See Also
Before you consider Cognex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cognex wasn't on the list.
While Cognex currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
