Cognex Co. (NASDAQ:CGNX) Shares Bought by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP increased its holdings in Cognex Co. (NASDAQ:CGNX - Free Report) by 248.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 29,989 shares of the scientific and technical instruments company's stock after buying an additional 21,371 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Cognex were worth $1,075,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in shares of Cognex by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,836 shares of the scientific and technical instruments company's stock valued at $281,000 after acquiring an additional 262 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Cognex by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,616 shares of the scientific and technical instruments company's stock worth $201,000 after acquiring an additional 270 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Cognex by 50.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock worth $32,000 after acquiring an additional 295 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Cognex by 30.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock worth $48,000 after acquiring an additional 317 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Cognex by 0.6% during the 4th quarter. Arizona State Retirement System now owns 49,749 shares of the scientific and technical instruments company's stock valued at $1,784,000 after purchasing an additional 320 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

Cognex Price Performance

Shares of CGNX stock traded down $0.62 during midday trading on Monday, hitting $30.96. The company had a trading volume of 198,687 shares, compared to its average volume of 1,557,148. The company's 50 day simple moving average is $28.01 and its 200 day simple moving average is $34.25. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 50.69 and a beta of 1.45. Cognex Co. has a 52-week low of $22.67 and a 52-week high of $53.13.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, May 15th. Cognex's dividend payout ratio is presently 47.06%.

Insider Activity at Cognex

In related news, EVP Carl Gerst sold 6,803 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $32.73, for a total value of $222,662.19. Following the completion of the transaction, the executive vice president now directly owns 4,566 shares in the company, valued at approximately $149,445.18. This represents a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CGNX. Stephens reissued an "overweight" rating and set a $55.00 target price on shares of Cognex in a research report on Wednesday, March 12th. TD Cowen upgraded Cognex from a "hold" rating to a "buy" rating and set a $35.00 price objective for the company in a research note on Monday, April 28th. Truist Financial decreased their price objective on Cognex from $37.00 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. HSBC cut Cognex from a "buy" rating to a "hold" rating and set a $33.00 price target for the company. in a research note on Friday, February 21st. Finally, DA Davidson decreased their price target on Cognex from $35.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Cognex currently has an average rating of "Hold" and an average price target of $39.17.

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.