Point72 Hong Kong Ltd lifted its holdings in Cognex Co. (NASDAQ:CGNX - Free Report) by 6,203.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,543 shares of the scientific and technical instruments company's stock after acquiring an additional 12,344 shares during the quarter. Point72 Hong Kong Ltd's holdings in Cognex were worth $450,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Cognex in the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. lifted its holdings in 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 buying an additional 295 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of Cognex by 129.9% during 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 acquiring an additional 569 shares during the last quarter. Principal Securities Inc. raised its position in shares of Cognex by 50.2% during the 4th quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company's stock valued at $38,000 after acquiring an additional 350 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position 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 valued at $48,000 after acquiring an additional 317 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Cognex from $33.00 to $29.00 and set a "sell" rating for the company in a research report on Tuesday, May 6th. 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. Needham & Company LLC lowered their price target on Cognex from $41.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup cut their price objective on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Cowen raised shares of Cognex from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $39.17.
Check Out Our Latest Stock Report on CGNX
Cognex Stock Performance
Shares of NASDAQ CGNX traded down $0.02 during trading on Tuesday, hitting $30.97. 1,175,213 shares of the company traded hands, compared to its average volume of 1,562,650. The business's fifty day moving average is $28.02 and its 200 day moving average is $34.16. Cognex Co. has a fifty-two week low of $22.67 and a fifty-two week high of $53.13. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 50.77 and a beta of 1.45.
Cognex Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors 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 dividend on an annualized basis and a dividend yield of 1.03%. Cognex's dividend payout ratio is presently 47.06%.
Insider Buying and Selling
In related news, EVP Carl Gerst sold 6,803 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $32.73, for a total transaction of $222,662.19. Following the completion of the sale, the executive vice president now directly owns 4,566 shares of the company's stock, valued at approximately $149,445.18. This trade represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.
About Cognex
(
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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