New York State Teachers Retirement System Cuts Stake in Cognex Corporation (NASDAQ:CGNX)

New York State Teachers Retirement System reduced its position in Cognex Corporation (NASDAQ:CGNX - Free Report) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,518 shares of the scientific and technical instruments company's stock after selling 15,600 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Cognex worth $5,116,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cognex by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,427,756 shares of the scientific and technical instruments company's stock worth $51,199,000 after purchasing an additional 42,292 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Cognex by 75.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,870 shares of the scientific and technical instruments company's stock worth $102,000 after acquiring an additional 1,231 shares during the last quarter. Swiss National Bank grew its stake in shares of Cognex by 0.7% in the 4th quarter. Swiss National Bank now owns 337,300 shares of the scientific and technical instruments company's stock worth $12,096,000 after acquiring an additional 2,200 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cognex by 7,515.1% in 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 during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Cognex by 3.2% during the fourth quarter. Nuveen Asset Management LLC now owns 457,636 shares of the scientific and technical instruments company's stock worth $16,411,000 after purchasing an additional 14,396 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Cognex from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Cowen raised Cognex from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. Truist Financial cut their price objective on Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Citigroup cut their price objective on Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC lifted their target price on Cognex from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cognex has an average rating of "Hold" and an average target price of $39.17.

Cognex Trading Up 4.0%

Shares of NASDAQ CGNX traded up $1.28 during midday trading on Tuesday, hitting $33.13. 1,725,614 shares of the company's stock were exchanged, compared to its average volume of 1,636,649. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $53.13. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 48.72 and a beta of 1.47. The business's fifty day moving average price is $30.33 and its two-hundred day moving average price is $32.05.

Cognex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex's dividend payout ratio is currently 47.06%.

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.