Cognex Corporation (NASDAQ:CGNX) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Cognex Corporation (NASDAQ:CGNX - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,131,538 shares of the scientific and technical instruments company's stock after acquiring an additional 38,857 shares during the quarter. Bank of New York Mellon Corp owned 1.26% of Cognex worth $63,584,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Cognex by 1.6% in 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 in the last quarter. William Blair Investment Management LLC grew its position in shares of Cognex by 27.3% in the 4th 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 acquiring an additional 1,253,996 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Cognex by 13.7% in the 4th 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 acquiring an additional 461,724 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Cognex by 1.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,256,640 shares of the scientific and technical instruments company's stock worth $80,923,000 after acquiring an additional 25,492 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Cognex by 9.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,038,345 shares of the scientific and technical instruments company's stock worth $73,095,000 after acquiring an additional 177,324 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Cognex Stock Down 1.2%

CGNX stock traded down $0.40 during trading on Friday, reaching $34.34. 3,036,573 shares of the company's stock were exchanged, compared to its average volume of 1,654,390. Cognex Corporation has a 1-year low of $22.67 and a 1-year high of $53.13. The company's fifty day moving average price is $30.85 and its 200-day moving average price is $32.04. The firm has a market cap of $5.76 billion, a PE ratio of 50.50 and a beta of 1.47.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders 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 dividend on an annualized basis and a yield of 0.93%. Cognex's dividend payout ratio (DPR) is presently 47.06%.

Analysts Set New Price Targets

CGNX has been the subject of several research reports. Citigroup decreased their target price on Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Robert W. Baird raised their price target on Cognex from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. DA Davidson reissued a "neutral" rating and issued a $32.00 price target on shares of Cognex in a report on Monday, June 16th. Needham & Company LLC raised their price target on Cognex from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, TD Cowen raised Cognex from a "hold" rating to a "buy" rating and set a $35.00 price target on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.77.

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.