Cognex Corporation (NASDAQ:CGNX) Shares Acquired by Covea Finance

Covea Finance increased its position in Cognex Corporation (NASDAQ:CGNX - Free Report) by 17.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 86,000 shares of the scientific and technical instruments company's stock after purchasing an additional 12,500 shares during the period. Covea Finance owned 0.05% of Cognex worth $2,565,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in Cognex in the fourth quarter valued at $29,000. SRS Capital Advisors Inc. increased its position in Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after acquiring an additional 295 shares during the period. Farther Finance Advisors LLC raised its stake in Cognex by 439.4% during the 1st quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 791 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Cognex by 129.9% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock worth $36,000 after acquiring an additional 569 shares during the period. Finally, Principal Securities Inc. lifted its position in Cognex by 50.2% during the 4th quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock worth $38,000 after acquiring an additional 350 shares during the period. 88.12% of the stock is owned by institutional investors and hedge funds.

Cognex Stock Up 3.0%

Shares of NASDAQ CGNX traded up $0.88 during trading on Tuesday, hitting $30.71. 1,622,240 shares of the company traded hands, compared to its average volume of 1,612,754. The firm has a market capitalization of $5.16 billion, a P/E ratio of 45.16 and a beta of 1.47. The company has a 50-day moving average price of $28.91 and a 200-day moving average price of $32.42. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $53.13.

Cognex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Thursday, May 15th. Cognex's dividend payout ratio is presently 47.06%.

Wall Street Analysts Forecast Growth

CGNX has been the subject of several analyst reports. Needham & Company LLC upped their price target on Cognex from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Citigroup cut their price objective on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Truist Financial lowered their target price on shares of Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Cowen raised shares of Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. Finally, Stephens reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of Cognex in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $39.17.

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.