Cognex Corporation (NASDAQ:CGNX) Shares Sold by Cwm LLC

CWM LLC decreased its holdings in Cognex Corporation (NASDAQ:CGNX - Free Report) by 49.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,732 shares of the scientific and technical instruments company's stock after selling 46,158 shares during the period. CWM LLC's holdings in Cognex were worth $1,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Cognex during the 4th quarter worth approximately $46,299,000. SG Americas Securities LLC boosted its holdings in Cognex by 16,472.8% during the first quarter. SG Americas Securities LLC now owns 819,028 shares of the scientific and technical instruments company's stock worth $24,432,000 after buying an additional 814,086 shares in the last quarter. Marshall Wace LLP raised its position in shares of Cognex by 903.9% in the fourth quarter. Marshall Wace LLP now owns 731,232 shares of the scientific and technical instruments company's stock valued at $26,222,000 after buying an additional 658,394 shares during the last quarter. Millennium Management LLC increased its position in Cognex by 464.6% during the fourth quarter. Millennium Management LLC now owns 782,576 shares of the scientific and technical instruments company's stock worth $28,063,000 after purchasing an additional 643,959 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Cognex by 139.7% during the fourth quarter. AQR Capital Management LLC now owns 1,096,710 shares of the scientific and technical instruments company's stock worth $39,328,000 after buying an additional 639,258 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Stock Performance

CGNX traded down $0.29 during trading on Thursday, hitting $34.32. 208,214 shares of the stock were exchanged, compared to its average volume of 2,057,955. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $50.78. The firm has a 50 day simple moving average of $31.49 and a 200 day simple moving average of $31.92. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 50.40 and a beta of 1.47.

Cognex Dividend Announcement

The firm also recently declared 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 of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.93%. Cognex's dividend payout ratio (DPR) is 47.06%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cowen raised shares of Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. UBS Group reduced their price target on shares of Cognex from $56.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Citigroup reiterated a "neutral" rating and set a $37.00 price target (up previously from $30.00) on shares of Cognex in a report on Monday, July 14th. Melius upgraded shares of Cognex from a "hold" rating to a "buy" rating and set a $60.00 price objective on the stock in a research note on Thursday, July 10th. Finally, DA Davidson restated a "neutral" rating and issued a $32.00 price objective on shares of Cognex in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cognex presently has a consensus rating of "Hold" and a consensus price target of $40.25.

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.