Harbor Capital Advisors Inc. Sells 16,127 Shares of Cognex Co. (NASDAQ:CGNX)

Harbor Capital Advisors Inc. lowered its stake in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 27.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,949 shares of the scientific and technical instruments company's stock after selling 16,127 shares during the period. Harbor Capital Advisors Inc.'s holdings in Cognex were worth $1,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGNX. SBI Securities Co. Ltd. acquired a new stake in Cognex in the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its position in shares of Cognex by 50.0% during 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 acquiring an additional 295 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Cognex by 439.4% in the 1st quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company's stock worth $29,000 after buying an additional 791 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted 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 acquiring an additional 569 shares during the period. Finally, Principal Securities Inc. boosted its position in Cognex by 50.2% during the 4th 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. Institutional investors and hedge funds own 88.12% of the company's stock.

Cognex Price Performance

Shares of NASDAQ CGNX traded down $0.45 during trading hours on Friday, reaching $30.15. The stock had a trading volume of 2,224,182 shares, compared to its average volume of 1,606,898. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 49.43 and a beta of 1.47. The business's fifty day moving average is $28.25 and its two-hundred day moving average is $32.90. Cognex Co. has a twelve month low of $22.67 and a twelve month high of $53.13.

Cognex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.06%. Cognex's payout ratio is presently 47.06%.

Analysts Set New Price Targets

CGNX has been the topic of several analyst reports. TD Cowen upgraded Cognex from a "hold" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Monday, April 28th. Truist Financial reduced their price objective on Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. DA Davidson cut their price target on shares of Cognex from $35.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Robert W. Baird reduced their price objective on Cognex from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Finally, HSBC lowered shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $39.67.

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.