Point72 Asset Management L.P. decreased its stake in Cognex Co. (NASDAQ:CGNX - Free Report) by 49.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,826 shares of the scientific and technical instruments company's stock after selling 1,406,929 shares during the period. Point72 Asset Management L.P. owned 0.83% of Cognex worth $51,202,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Cognex in the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. boosted its holdings in shares of Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock valued at $32,000 after buying an additional 295 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Cognex by 129.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,007 shares of the scientific and technical instruments company's stock valued at $36,000 after buying an additional 569 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Cognex by 50.2% in the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 350 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Cognex by 30.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company's stock worth $48,000 after buying an additional 317 shares during the last quarter. Institutional investors own 88.12% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on CGNX shares. Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Needham & Company LLC cut their target price on shares of Cognex from $41.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. UBS Group lowered their price target on Cognex from $56.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. DA Davidson dropped their price objective on Cognex from $35.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Finally, HSBC downgraded Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $39.17.
Get Our Latest Report on Cognex
Cognex Price Performance
NASDAQ CGNX traded down $0.59 on Monday, reaching $30.99. The stock had a trading volume of 1,306,182 shares, compared to its average volume of 1,561,466. Cognex Co. has a 1-year low of $22.67 and a 1-year high of $53.13. The company has a market cap of $5.20 billion, a P/E ratio of 50.80 and a beta of 1.45. The firm has a fifty day moving average of $28.01 and a two-hundred day moving average of $34.18.
Cognex Announces Dividend
The firm also recently declared 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 of this dividend is Thursday, May 15th. Cognex's dividend payout ratio is 47.06%.
Insiders Place Their Bets
In related news, EVP Carl Gerst sold 6,803 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 4,566 shares in the company, valued at approximately $149,445.18. The trade was a 59.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.
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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