Cognex Co. (CGNX) Stake Lifted by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. lifted its stake in shares of Cognex Co. (NASDAQ:CGNX) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 556,272 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,135 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.64% of Cognex worth $61,349,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in CGNX. Janney Montgomery Scott LLC lifted its holdings in shares of Cognex by 6.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,559 shares of the scientific and technical instruments company’s stock worth $812,000 after acquiring an additional 541 shares during the period. Great West Life Assurance Co. Can raised its holdings in Cognex by 1.3% in the second quarter. Great West Life Assurance Co. Can now owns 51,795 shares of the scientific and technical instruments company’s stock valued at $4,395,000 after buying an additional 664 shares during the period. Daiwa Securities Group Inc. purchased a new position in Cognex in the second quarter valued at approximately $102,000. World Asset Management Inc raised its holdings in Cognex by 4.3% in the second quarter. World Asset Management Inc now owns 6,244 shares of the scientific and technical instruments company’s stock valued at $530,000 after buying an additional 260 shares during the period. Finally, IFP Advisors Inc raised its holdings in Cognex by 46.8% in the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after buying an additional 612 shares during the period. Institutional investors and hedge funds own 84.25% of the company’s stock.
In other Cognex news, Director Patrick Alias sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $111.31, for a total value of $556,550.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $556,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Benjamin Miller sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $134.48, for a total transaction of $504,300.00. Following the sale, the director now directly owns 3,750 shares of the company’s stock, valued at approximately $504,300. The disclosure for this sale can be found here. Insiders sold 148,750 shares of company stock valued at $19,097,525 in the last ninety days. 5.60% of the stock is owned by corporate insiders.
Shares of Cognex Co. (NASDAQ CGNX) opened at $63.19 on Friday. Cognex Co. has a 1 year low of $29.94 and a 1 year high of $72.99. The stock has a market cap of $10,940.00, a P/E ratio of 46.41 and a beta of 1.50.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The company had revenue of $259.74 million during the quarter, compared to the consensus estimate of $255.95 million. During the same quarter last year, the company earned $0.31 earnings per share. Cognex’s revenue for the quarter was up 75.6% on a year-over-year basis. research analysts predict that Cognex Co. will post 1.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.28%. The ex-dividend date was Thursday, November 16th. Cognex’s dividend payout ratio (DPR) is 13.24%.
Several research analysts recently commented on CGNX shares. Wolfe Research upgraded shares of Cognex from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Cognex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Robert W. Baird raised their price target on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Canaccord Genuity raised their price target on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, J P Morgan Chase & Co lowered shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price target on the stock. in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Cognex has a consensus rating of “Hold” and an average price target of $56.86.
Cognex Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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