Cognex Co. (NASDAQ:CGNX) Stock Position Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cognex Co. (NASDAQ:CGNX - Free Report) by 56.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,844 shares of the scientific and technical instruments company's stock after acquiring an additional 10,458 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Cognex were worth $1,034,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Cognex during the 4th quarter valued at about $29,000. SRS Capital Advisors Inc. boosted its holdings in Cognex by 50.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after purchasing an additional 295 shares during the period. CBIZ Investment Advisory Services LLC increased its stake in shares of 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 during the period. Principal Securities Inc. grew its stake in shares of 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 purchasing an additional 350 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Cognex by 30.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock valued at $48,000 after acquiring an additional 317 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Stock Performance

Shares of NASDAQ CGNX traded down $0.24 during midday trading on Thursday, reaching $30.60. 1,528,420 shares of the company's stock were exchanged, compared to its average volume of 1,602,252. Cognex Co. has a 52-week low of $22.67 and a 52-week high of $53.13. The business's fifty day moving average price is $27.99 and its two-hundred day moving average price is $33.04. The stock has a market capitalization of $5.14 billion, a PE ratio of 50.16 and a beta of 1.47.

Cognex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex's payout ratio is currently 47.06%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CGNX shares. Needham & Company LLC upped their price target on shares of Cognex from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group dropped their target price on shares of Cognex from $56.00 to $53.00 and set a "buy" rating for the company in a report on Friday, May 2nd. TD Cowen raised Cognex from a "hold" rating to a "buy" rating and set a $35.00 target price on the stock in a research note on Monday, April 28th. Citigroup lowered their target price on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, HSBC lowered Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price on the stock. in a research report on Friday, February 21st. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $39.67.

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.