Chevy Chase Trust Holdings LLC Sells 233,580 Shares of Cognex Corporation (NASDAQ:CGNX)

Chevy Chase Trust Holdings LLC cut its position in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,409,891 shares of the scientific and technical instruments company's stock after selling 233,580 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.83% of Cognex worth $42,057,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Cognex by 31.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 275,103 shares of the scientific and technical instruments company's stock valued at $8,206,000 after buying an additional 66,137 shares during the last quarter. Covea Finance lifted its holdings in Cognex by 17.0% during the 1st quarter. Covea Finance now owns 86,000 shares of the scientific and technical instruments company's stock valued at $2,565,000 after purchasing an additional 12,500 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in Cognex during the 1st quarter valued at $38,000. Janney Montgomery Scott LLC lifted its holdings in Cognex by 26.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 32,316 shares of the scientific and technical instruments company's stock valued at $964,000 after purchasing an additional 6,847 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in Cognex by 40.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 440,882 shares of the scientific and technical instruments company's stock valued at $13,152,000 after purchasing an additional 126,273 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

Cognex Stock Performance

Shares of NASDAQ CGNX traded down $0.14 during mid-day trading on Friday, reaching $31.46. The company had a trading volume of 2,909,480 shares, compared to its average volume of 1,626,244. Cognex Corporation has a one year low of $22.67 and a one year high of $53.13. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 46.26 and a beta of 1.47. The business's 50-day simple moving average is $29.50 and its 200 day simple moving average is $32.27.

Cognex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, May 15th. Cognex's payout ratio is currently 47.06%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Robert W. Baird raised their price target on Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Citigroup dropped their target price on Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, April 14th. DA Davidson reissued a "neutral" rating and set a $32.00 target price on shares of Cognex in a report on Monday, June 16th. Truist Financial dropped their target price on Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Finally, TD Cowen raised Cognex from a "hold" rating to a "buy" rating and set a $35.00 target price for the company in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $39.17.

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.