Nuveen Asset Management LLC Raises Position in Cognex Co. (NASDAQ:CGNX)

Nuveen Asset Management LLC increased its position in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 457,636 shares of the scientific and technical instruments company's stock after purchasing an additional 14,396 shares during the quarter. Nuveen Asset Management LLC owned 0.27% of Cognex worth $16,411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Cognex during the fourth quarter worth $29,000. SRS Capital Advisors Inc. increased its position in Cognex by 50.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock worth $32,000 after buying an additional 295 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in Cognex by 129.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock worth $36,000 after buying an additional 569 shares in the last quarter. Principal Securities Inc. increased its position in Cognex by 50.2% during the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 350 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in Cognex by 30.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock worth $48,000 after buying an additional 317 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Cognex Price Performance

CGNX stock traded down $0.40 during trading on Wednesday, reaching $30.32. 1,342,842 shares of the stock traded hands, compared to its average volume of 1,576,305. The business's 50 day moving average price is $27.85 and its 200-day moving average price is $33.75. Cognex Co. has a 52-week low of $22.67 and a 52-week high of $53.13. The firm has a market capitalization of $5.09 billion, a PE ratio of 49.71 and a beta of 1.45.

Cognex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 15th. Cognex's payout ratio is 47.06%.

Wall Street Analysts Forecast Growth

CGNX has been the subject of several recent research reports. Citigroup dropped their price target on Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. HSBC downgraded Cognex from a "buy" rating to a "hold" rating and set a $33.00 price target for the company. in a research report on Friday, February 21st. Hsbc Global Res downgraded Cognex from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. TD Cowen raised Cognex from a "hold" rating to a "buy" rating and set a $35.00 price target for the company in a research report on Monday, April 28th. Finally, The Goldman Sachs Group lowered their price objective on Cognex from $33.00 to $29.00 and set a "sell" rating for the company in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.