Chevy Chase Trust Holdings LLC Has $41.33 Million Holdings in Cognex Corporation $CGNX

Key Points

• Chevy Chase Trust Holdings LLC reduced its holdings in Cognex Corporation by 7.6%, now owning approximately 1.3 million shares valued at about $41.33 million.
• Several institutional investors have increased their positions in Cognex, with Nordea Investment Management boosting its stake by 148.5% in the same quarter.
• Cognex's stock has recently received a price target increase from various analysts, with Needham & Company raising their price objective from $36.00 to $45.00 and giving it a "buy" rating.

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,302,915 shares of the scientific and technical instruments company's stock after selling 106,976 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.78% of Cognex worth $41,328,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CGNX. Nordea Investment Management AB lifted its position in shares of Cognex by 148.5% during the 2nd quarter. Nordea Investment Management AB now owns 7,075,772 shares of the scientific and technical instruments company's stock worth $223,594,000 after purchasing an additional 4,228,729 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Cognex by 126.2% during the 1st quarter. Mackenzie Financial Corp now owns 4,609,802 shares of the scientific and technical instruments company's stock worth $137,510,000 after purchasing an additional 2,571,457 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Cognex by 32.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,082,319 shares of the scientific and technical instruments company's stock worth $181,436,000 after purchasing an additional 1,474,832 shares during the last quarter. ING Groep NV acquired a new position in shares of Cognex during the 1st quarter worth about $22,191,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Cognex by 34.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,539,557 shares of the scientific and technical instruments company's stock worth $75,756,000 after purchasing an additional 647,955 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Insider Buying and Selling at Cognex

In other news, EVP Sheila Marie Dipalma sold 2,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $45.03, for a total value of $90,060.00. Following the sale, the executive vice president directly owned 6,582 shares in the company, valued at approximately $296,387.46. This represents a 23.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CGNX shares. Needham & Company LLC boosted their price objective on Cognex from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. DA Davidson boosted their price objective on Cognex from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Barclays set a $55.00 price target on Cognex and gave the company an "overweight" rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. began coverage on Cognex in a report on Monday, September 15th. They issued a "neutral" rating and a $45.00 price target for the company. Finally, Truist Financial set a $45.00 price target on Cognex and gave the company a "hold" rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cognex currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.93.

Cognex Stock Down 0.6%

Cognex stock opened at $46.04 on Friday. Cognex Corporation has a 12 month low of $22.67 and a 12 month high of $47.52. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 64.85 and a beta of 1.50. The business has a 50 day moving average price of $44.62 and a two-hundred day moving average price of $35.42.

Cognex (NASDAQ:CGNX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Cognex had a return on equity of 6.65% and a net margin of 13.13%.The company had revenue of $249.09 million for the quarter, compared to analyst estimates of $246.70 million. During the same period in the prior year, the company posted $0.23 EPS. The company's revenue was up 4.2% compared to the same quarter last year. Cognex has set its Q3 2025 guidance at 0.240-0.290 EPS. On average, analysts expect that Cognex Corporation will post 0.61 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 14th. Cognex's dividend payout ratio is currently 45.07%.

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.

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Corporation (NASDAQ:CGNX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.