Cognex Corporation $CGNX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,869,979 shares of the scientific and technical instruments company's stock after selling 168,455 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.12% of Cognex worth $91,610,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cognex by 173,138.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 10,477,448 shares of the scientific and technical instruments company's stock valued at $376,979,000 after buying an additional 10,471,400 shares during the period. Pictet Asset Management Holding SA grew its stake in Cognex by 27.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,013,184 shares of the scientific and technical instruments company's stock worth $252,360,000 after acquiring an additional 1,529,010 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Cognex by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,314,896 shares of the scientific and technical instruments company's stock worth $191,231,000 after acquiring an additional 1,258,629 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in Cognex by 0.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,768,716 shares of the scientific and technical instruments company's stock valued at $151,264,000 after acquiring an additional 40,927 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Cognex by 27.1% in the 4th quarter. Geode Capital Management LLC now owns 3,950,299 shares of the scientific and technical instruments company's stock valued at $142,154,000 after acquiring an additional 842,783 shares during the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

CGNX has been the topic of a number of recent analyst reports. Seaport Research Partners set a $75.00 price target on Cognex in a research note on Tuesday, May 26th. Citigroup reaffirmed a "neutral" rating and issued a $72.00 price objective (up from $68.00) on shares of Cognex in a research report on Monday, July 13th. Wall Street Zen upgraded Cognex from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Zacks Research upgraded Cognex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 16th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $75.00 price target on shares of Cognex in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.31.

Cognex Stock Down 0.2%

NASDAQ:CGNX opened at $62.94 on Wednesday. The company has a market cap of $10.47 billion, a P/E ratio of 74.93 and a beta of 1.49. Cognex Corporation has a fifty-two week low of $33.45 and a fifty-two week high of $72.88. The firm's 50 day moving average is $65.09 and its two-hundred day moving average is $54.92.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.09. The company had revenue of $268.44 million during the quarter, compared to analysts' expectations of $245.98 million. Cognex had a net margin of 13.62% and a return on equity of 10.89%. The business's quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 EPS. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. Research analysts forecast that Cognex Corporation will post 1.48 earnings per share for the current fiscal year.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.085 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.34 dividend on an annualized basis and a yield of 0.5%. Cognex's dividend payout ratio (DPR) is presently 40.48%.

Insider Buying and Selling at Cognex

In other Cognex news, insider Mark Fennell sold 64,873 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $67.05, for a total transaction of $4,349,734.65. Following the completion of the sale, the insider owned 11,263 shares of the company's stock, valued at approximately $755,184.15. The trade was a 85.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Darren Marc Long sold 20,252 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total value of $1,343,517.68. Following the sale, the vice president owned 3,990 shares of the company's stock, valued at $264,696.60. This represents a 83.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 224,847 shares of company stock valued at $14,975,098. Company insiders own 1.70% of the company's stock.

Cognex Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company's product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.

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