TD Asset Management Inc Lowers Stock Position in Cognex Corporation (NASDAQ:CGNX)

TD Asset Management Inc lessened its position in Cognex Corporation (NASDAQ:CGNX - Free Report) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 728,286 shares of the scientific and technical instruments company's stock after selling 35,546 shares during the quarter. TD Asset Management Inc owned 0.43% of Cognex worth $21,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Phoenix Financial Ltd. bought a new position in shares of Cognex during the first quarter valued at about $234,000. Caliber Wealth Management LLC KS purchased a new position in shares of Cognex during the first quarter valued at approximately $394,000. Cetera Investment Advisers lifted its holdings in shares of Cognex by 36.3% during the first quarter. Cetera Investment Advisers now owns 12,288 shares of the scientific and technical instruments company's stock valued at $367,000 after purchasing an additional 3,270 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Cognex during the first quarter valued at approximately $2,462,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Cognex in the 1st quarter worth approximately $1,068,000. Institutional investors own 88.12% of the company's stock.

Analyst Upgrades and Downgrades

CGNX has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC boosted their price objective on shares of Cognex from $36.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup reissued a "neutral" rating and set a $37.00 price objective (up previously from $30.00) on shares of Cognex in a research report on Monday, July 14th. Melius upgraded shares of Cognex from a "hold" rating to a "buy" rating and set a $60.00 target price on the stock in a research note on Thursday, July 10th. Finally, DA Davidson restated a "neutral" rating and set a $32.00 target price on shares of Cognex in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cognex has a consensus rating of "Moderate Buy" and a consensus target price of $42.08.

Cognex Stock Down 0.7%

CGNX stock traded down $0.30 during mid-day trading on Friday, hitting $40.47. The company had a trading volume of 3,512,890 shares, compared to its average volume of 2,105,354. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 57.00 and a beta of 1.47. Cognex Corporation has a 12-month low of $22.67 and a 12-month high of $44.17. The company has a 50-day moving average price of $31.81 and a 200 day moving average price of $31.81.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $249.09 million for the quarter, compared to the consensus estimate of $246.70 million. Cognex had a net margin of 13.13% and a return on equity of 6.64%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. As a group, analysts expect that Cognex Corporation will post 0.61 EPS for the current year.

Cognex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 14th. Cognex's dividend payout ratio is presently 45.07%.

About Cognex

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.