Cognex Corporation (NASDAQ:CGNX) Position Reduced by Cerity Partners LLC

Cerity Partners LLC trimmed its position in Cognex Corporation (NASDAQ:CGNX - Free Report) by 36.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,827 shares of the scientific and technical instruments company's stock after selling 31,634 shares during the quarter. Cerity Partners LLC's holdings in Cognex were worth $1,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in shares of Cognex by 439.4% in the first 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 period. GAMMA Investing LLC lifted its position in shares of Cognex by 155.3% in the first quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company's stock worth $32,000 after purchasing an additional 646 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Cognex by 105.5% in the first quarter. UMB Bank n.a. now owns 1,280 shares of the scientific and technical instruments company's stock worth $38,000 after purchasing an additional 657 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Cognex in the first quarter worth approximately $38,000. Finally, Quarry LP purchased a new stake in shares of Cognex in the fourth quarter worth approximately $53,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Stock Up 0.8%

Shares of CGNX stock opened at $34.07 on Monday. The stock has a 50-day moving average price of $31.35 and a 200 day moving average price of $31.90. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 50.10 and a beta of 1.47. Cognex Corporation has a 12 month low of $22.67 and a 12 month high of $51.43.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, May 15th. Cognex's dividend payout ratio (DPR) is presently 47.06%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CGNX shares. Melius raised shares of Cognex from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a research report on Thursday, July 10th. DA Davidson reissued a "neutral" rating and issued a $32.00 price target on shares of Cognex in a research report on Monday, June 16th. Truist Financial reduced their price target on shares of Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. UBS Group cut their price objective on shares of Cognex from $56.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Needham & Company LLC raised their price objective on shares of Cognex from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.62.

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.

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