Teacher Retirement System of Texas Raises Position in Cognex Corporation (NASDAQ:CGNX)

Teacher Retirement System of Texas boosted its stake in Cognex Corporation (NASDAQ:CGNX - Free Report) by 51.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,640 shares of the scientific and technical instruments company's stock after buying an additional 16,489 shares during the period. Teacher Retirement System of Texas' holdings in Cognex were worth $1,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CGNX. Proficio Capital Partners LLC purchased a new stake in Cognex in the fourth quarter worth about $1,215,000. PNC Financial Services Group Inc. lifted its holdings in Cognex by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,836 shares of the scientific and technical instruments company's stock worth $281,000 after buying an additional 262 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Cognex during the fourth quarter valued at approximately $1,311,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Cognex by 42.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 160,043 shares of the scientific and technical instruments company's stock worth $5,739,000 after purchasing an additional 47,811 shares in the last quarter. Finally, 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 buying an additional 2,200 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Price Performance

Shares of CGNX stock opened at $34.34 on Friday. Cognex Corporation has a 1 year low of $22.67 and a 1 year high of $53.13. The firm has a fifty day moving average price of $30.85 and a 200-day moving average price of $32.01. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 50.50 and a beta of 1.47.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.93%. Cognex's dividend payout ratio (DPR) is presently 47.06%.

Analyst Ratings Changes

CGNX has been the topic of several recent research reports. TD Cowen upgraded Cognex from a "hold" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Monday, April 28th. Citigroup dropped their price target on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. DA Davidson reiterated a "neutral" rating and issued a $32.00 price target on shares of Cognex in a research note on Monday, June 16th. UBS Group dropped their price target on shares of Cognex from $56.00 to $53.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Cognex from $29.00 to $32.00 and gave the company a "sell" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.77.

Cognex Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.