Copeland Capital Management LLC Has $50.66 Million Stock Position in Cognex Corporation $CGNX

Copeland Capital Management LLC lowered its stake in Cognex Corporation (NASDAQ:CGNX - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,407,994 shares of the scientific and technical instruments company's stock after selling 96,823 shares during the period. Copeland Capital Management LLC owned approximately 0.84% of Cognex worth $50,660,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Cognex by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,132 shares of the scientific and technical instruments company's stock worth $68,000 after purchasing an additional 243 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Cognex by 1.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,611 shares of the scientific and technical instruments company's stock worth $662,000 after purchasing an additional 256 shares in the last quarter. Arizona State Retirement System grew its position in shares of Cognex by 0.6% during the 3rd quarter. Arizona State Retirement System now owns 49,651 shares of the scientific and technical instruments company's stock worth $2,249,000 after purchasing an additional 285 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Cognex by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 54,349 shares of the scientific and technical instruments company's stock worth $2,462,000 after purchasing an additional 292 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Cognex by 74.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

CGNX has been the topic of a number of analyst reports. TD Cowen restated a "buy" rating on shares of Cognex in a research report on Tuesday, February 17th. The Goldman Sachs Group increased their target price on shares of Cognex from $50.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Raymond James Financial restated a "strong-buy" rating on shares of Cognex in a research report on Thursday, February 12th. Truist Financial decreased their target price on shares of Cognex from $52.00 to $50.00 and set a "hold" rating on the stock in a research report on Monday. Finally, UBS Group restated a "buy" rating and set a $70.00 target price on shares of Cognex in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.62.

Cognex Trading Up 0.1%

Shares of Cognex stock opened at $54.10 on Friday. The company has a 50 day moving average of $52.64 and a 200-day moving average of $44.54. Cognex Corporation has a 1-year low of $25.12 and a 1-year high of $59.88. The company has a market cap of $9.04 billion, a PE ratio of 80.75 and a beta of 1.47.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Cognex had a net margin of 11.51% and a return on equity of 9.02%. The company had revenue of $252.34 million during the quarter, compared to the consensus estimate of $238.92 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The firm's quarterly revenue was up 9.9% on a year-over-year basis. Research analysts forecast that Cognex Corporation will post 0.97 earnings per share for the current year.

Cognex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, February 26th. Cognex's dividend payout ratio is 50.75%.

Insider Transactions at Cognex

In other news, Director Robert Willett sold 177,052 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $58.39, for a total transaction of $10,338,066.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Angelos Papadimitriou sold 4,150 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $55.58, for a total transaction of $230,657.00. Following the sale, the director directly owned 16,222 shares of the company's stock, valued at approximately $901,618.76. This trade represents a 20.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 196,083 shares of company stock valued at $11,419,321. Company insiders own 1.70% of the company's stock.

Cognex Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company's product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Corporation (NASDAQ:CGNX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.