Copeland Capital Management LLC Trims Stock Position in Cognex Corporation (NASDAQ:CGNX)

Copeland Capital Management LLC trimmed its stake in Cognex Corporation (NASDAQ:CGNX - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,705,109 shares of the scientific and technical instruments company's stock after selling 26,912 shares during the quarter. Copeland Capital Management LLC owned about 1.01% of Cognex worth $50,863,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CGNX. Charles Schwab Investment Management Inc. lifted its position in shares of Cognex by 3.1% during the fourth 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 purchasing an additional 42,292 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Cognex by 75.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,870 shares of the scientific and technical instruments company's stock valued at $102,000 after purchasing an additional 1,231 shares in the last quarter. Swiss National Bank lifted its position in shares of 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 purchasing an additional 2,200 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 31,263 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Cognex during the fourth quarter valued at about $1,215,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Trading Down 0.4%

Shares of NASDAQ CGNX traded down $0.14 during midday trading on Friday, hitting $31.46. The company's stock had a trading volume of 2,909,480 shares, compared to its average volume of 1,626,244. The stock has a fifty day moving average price of $29.50 and a 200 day moving average price of $32.23. Cognex Corporation has a one year low of $22.67 and a one year high of $53.13. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 46.26 and a beta of 1.47.

Cognex Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on CGNX shares. Citigroup dropped their price target on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Cowen raised shares of Cognex from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. Needham & Company LLC lifted their price objective on shares of Cognex from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. UBS Group lowered 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, Truist Financial lowered their price objective on shares of Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $39.17.

About Cognex

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.