Cognex Corporation $CGNX Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its holdings in Cognex Corporation by 3.3%, now owning approximately $5.6 million worth of shares.
• Cognex reported a quarterly earnings per share of $0.25, surpassing analyst expectations of $0.23, with a revenue increase of 4.2% year-over-year to $249.09 million.
• The company announced a quarterly dividend of $0.08 per share, resulting in an annualized yield of 0.7%, with a payout ratio of 45.07%.

Corebridge Financial Inc. lessened its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,740 shares of the scientific and technical instruments company's stock after selling 6,443 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Cognex worth $5,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of Cognex by 32.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,082,319 shares of the scientific and technical instruments company's stock valued at $181,436,000 after purchasing an additional 1,474,832 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Cognex by 126.2% in the first quarter. Mackenzie Financial Corp now owns 4,609,802 shares of the scientific and technical instruments company's stock valued at $137,510,000 after buying an additional 2,571,457 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Cognex by 34.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,539,557 shares of the scientific and technical instruments company's stock valued at $75,756,000 after buying an additional 647,955 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Cognex by 1.1% during the 4th quarter. Lazard Asset Management LLC now owns 2,256,640 shares of the scientific and technical instruments company's stock valued at $80,923,000 after acquiring an additional 25,492 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cognex by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 2,131,538 shares of the scientific and technical instruments company's stock worth $63,584,000 after acquiring an additional 38,857 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Cognex Stock Performance

Shares of CGNX traded up $0.17 during trading hours on Thursday, hitting $44.14. The stock had a trading volume of 721,617 shares, compared to its average volume of 2,091,098. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $45.03. The firm has a market cap of $7.41 billion, a P/E ratio of 62.23 and a beta of 1.50. The company's fifty day simple moving average is $38.07 and its 200 day simple moving average is $32.49.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $246.70 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. Cognex has set its Q3 2025 guidance at 0.240-0.290 EPS. As a group, sell-side analysts predict that Cognex Corporation will post 0.61 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 14th. Cognex's dividend payout ratio is 45.07%.

Analyst Upgrades and Downgrades

CGNX has been the subject of a number of research analyst reports. UBS Group raised their price target on Cognex from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, August 1st. KeyCorp raised shares of Cognex from a "sector weight" rating to an "overweight" rating and set a $50.00 price target on the stock in a research note on Friday, August 1st. DA Davidson boosted their price objective on shares of Cognex from $32.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Robert W. Baird upped their price objective on shares of Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, Needham & Company LLC lifted their target price on shares of Cognex from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Cognex currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.31.

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.