Chevy Chase Trust Holdings LLC Trims Stock Position in Cognex Corporation (NASDAQ:CGNX)

Chevy Chase Trust Holdings LLC decreased its position in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 14.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Cognex by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,427,756 shares of the scientific and technical instruments company's stock valued at $51,199,000 after buying an additional 42,292 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Cognex by 75.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,870 shares of the scientific and technical instruments company's stock worth $102,000 after buying an additional 1,231 shares during the last quarter. Swiss National Bank grew its position in Cognex by 0.7% during the fourth quarter. Swiss National Bank now owns 337,300 shares of the scientific and technical instruments company's stock valued at $12,096,000 after buying an additional 2,200 shares during the period. GAMMA Investing LLC increased its holdings in Cognex by 7,515.1% during the first quarter. GAMMA Investing LLC now owns 31,679 shares of the scientific and technical instruments company's stock valued at $945,000 after buying an additional 31,263 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Cognex during the 4th quarter worth $1,215,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup reduced their price objective on Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Cowen raised Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Needham & Company LLC lifted their price objective on Cognex from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. TD Cowen raised shares of 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. Finally, Robert W. Baird raised their target price on shares of Cognex from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.17.

Cognex Trading Up 2.7%

CGNX traded up $0.82 during trading hours on Thursday, hitting $31.60. The company's stock had a trading volume of 1,374,588 shares, compared to its average volume of 1,613,568. Cognex Corporation has a 12 month low of $22.67 and a 12 month high of $53.13. The business's 50-day moving average price is $29.34 and its 200-day moving average price is $32.35. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 46.47 and a beta of 1.47.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. Cognex's payout ratio is 47.06%.

Cognex 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.