Twinbeech Capital LP purchased a new position in shares of Cognex Co. (NASDAQ:CGNX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 66,223 shares of the scientific and technical instruments company's stock, valued at approximately $2,375,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Cognex by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 18,479,828 shares of the scientific and technical instruments company's stock worth $662,687,000 after buying an additional 296,251 shares in the last quarter. William Blair Investment Management LLC lifted its position in Cognex by 27.3% during the 4th quarter. William Blair Investment Management LLC now owns 5,840,117 shares of the scientific and technical instruments company's stock worth $209,427,000 after buying an additional 1,253,996 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Cognex by 13.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,820,394 shares of the scientific and technical instruments company's stock worth $136,999,000 after purchasing an additional 461,724 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Cognex by 1.1% during the 4th quarter. Lazard Asset Management LLC now owns 2,256,640 shares of the scientific and technical instruments company's stock worth $80,923,000 after purchasing an additional 25,492 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Cognex during the 4th quarter worth about $79,797,000. 88.12% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Cognex news, EVP Carl Gerst sold 6,803 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $32.73, for a total transaction of $222,662.19. Following the transaction, the executive vice president now owns 4,566 shares in the company, valued at $149,445.18. This represents a 59.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on CGNX. Robert W. Baird lowered their price objective on shares of Cognex from $42.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Needham & Company LLC lowered their price objective on shares of Cognex from $41.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. TD Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating and set a $35.00 price objective on the stock in a research note on Monday, April 28th. HSBC lowered shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 price objective on the stock. in a research note on Friday, February 21st. Finally, Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $39.17.
Get Our Latest Analysis on Cognex
Cognex Price Performance
Cognex stock traded down $0.17 during trading hours on Friday, hitting $29.72. The company had a trading volume of 2,310,420 shares, compared to its average volume of 1,577,909. The firm has a market cap of $4.99 billion, a PE ratio of 48.72 and a beta of 1.45. Cognex Co. has a one year low of $22.67 and a one year high of $53.13. The firm has a 50-day moving average of $27.89 and a 200 day moving average of $33.92.
Cognex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.08 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 1.08%. Cognex's dividend payout ratio is currently 47.06%.
Cognex Profile
(
Free Report)
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.
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