Fifth Third Bancorp Has $4.90 Million Position in Cognex Corporation $CGNX

Key Points

• Fifth Third Bancorp dramatically increased its stake in Cognex, boosting holdings by 2,893.9% in the first quarter to 99,937 shares valued at about $4.9 million.
• Insider selling has been heavy, with two vice presidents recently selling large blocks of shares; insiders have sold 224,847 shares worth roughly $15.0 million over the last 90 days.
• Cognex reported strong quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $72.31.

Fifth Third Bancorp lifted its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 2,893.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 99,937 shares of the scientific and technical instruments company's stock after purchasing an additional 96,599 shares during the period. Fifth Third Bancorp owned 0.06% of Cognex worth $4,896,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC raised its position in Cognex by 74.8% in 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 during the last quarter. Geneos Wealth Management Inc. boosted its position in Cognex by 402.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company's stock valued at $27,000 after buying an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cognex in the 4th quarter valued at $39,000. Miller Global Investments LLC acquired a new stake in shares of Cognex in the 4th quarter valued at $39,000. Finally, Larson Financial Group LLC raised its position in shares of Cognex by 202.7% during the fourth quarter. Larson Financial Group LLC now owns 1,105 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 740 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Darren Marc Long sold 20,252 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total value of $1,343,517.68. Following the completion of the sale, the vice president owned 3,990 shares of the company's stock, valued at approximately $264,696.60. This represents a 83.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Laura Ann Macdonald sold 98,122 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $66.80, for a total transaction of $6,554,549.60. Following the completion of the sale, the vice president directly owned 5,258 shares in the company, valued at approximately $351,234.40. The trade was a 94.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 224,847 shares of company stock valued at $14,975,098 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Cognex from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cognex in a report on Friday, May 15th. Seaport Research Partners set a $75.00 target price on shares of Cognex in a research report on Tuesday, May 26th. DA Davidson set a $62.00 price target on Cognex and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, Truist Financial lifted their price objective on Cognex from $61.00 to $71.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $72.31.

Cognex Stock Up 0.3%

NASDAQ:CGNX opened at $64.07 on Friday. The company has a market cap of $10.66 billion, a P/E ratio of 76.27 and a beta of 1.49. Cognex Corporation has a twelve month low of $33.45 and a twelve month high of $72.88. The business has a 50 day moving average price of $65.23 and a two-hundred day moving average price of $54.41.

Cognex (NASDAQ:CGNX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. Cognex had a net margin of 13.62% and a return on equity of 10.89%. The company had revenue of $268.44 million for the quarter, compared to the consensus estimate of $245.98 million. During the same period last year, the company earned $0.14 earnings per share. The firm's revenue was up 24.3% compared to the same quarter last year. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. As a group, analysts anticipate that Cognex Corporation will post 1.48 earnings per share for the current fiscal year.

Cognex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, May 21st. Cognex's dividend payout ratio (DPR) is currently 40.48%.

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.

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