Cognex Corporation (CGNX) Holdings Reduced by Ameriprise Financial Inc.
Ameriprise Financial Inc. lowered its position in Cognex Corporation (NASDAQ:CGNX) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,227,133 shares of the scientific and technical instruments company’s stock after selling 115,179 shares during the quarter. Ameriprise Financial Inc. owned approximately 2.57% of Cognex Corporation worth $245,609,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in CGNX. Coatue Management LLC acquired a new stake in Cognex Corporation in the second quarter valued at $87,064,000. American Century Companies Inc. acquired a new stake in shares of Cognex Corporation during the 2nd quarter worth about $31,281,000. BlackRock Inc. lifted its stake in shares of Cognex Corporation by 3.5% during the 2nd quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock worth $584,711,000 after buying an additional 231,014 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cognex Corporation by 21.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,261,312 shares of the scientific and technical instruments company’s stock worth $107,085,000 after buying an additional 221,545 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Cognex Corporation during the 2nd quarter worth about $17,063,000. Hedge funds and other institutional investors own 85.83% of the company’s stock.
In other Cognex Corporation news, Director Theodor Krantz sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $134.05, for a total value of $2,010,750.00. Following the transaction, the director now directly owns 26,250 shares of the company’s stock, valued at approximately $3,518,812.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey Benjamin Miller sold 3,750 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $134.48, for a total transaction of $504,300.00. Following the completion of the transaction, the director now directly owns 3,750 shares in the company, valued at $504,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,991 shares of company stock worth $19,974,890. 5.60% of the stock is owned by insiders.
A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Cognex Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. J P Morgan Chase & Co cut shares of Cognex Corporation from a “neutral” rating to an “underweight” rating and set a $125.00 target price for the company. in a research note on Wednesday, November 8th. BidaskClub upgraded shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Cowen and Company raised their target price on shares of Cognex Corporation from $100.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Robert W. Baird raised their target price on shares of Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $106.88.
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Cognex Corporation (CGNX) opened at $143.15 on Thursday. Cognex Corporation has a 1 year low of $57.42 and a 1 year high of $145.98. The company has a market cap of $12,542.94, a PE ratio of 53.45 and a beta of 1.48.
Cognex Corporation shares are set to split on the morning of Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly issued shares will be distributed to shareholders after the closing bell on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last released its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Cognex Corporation had a net margin of 34.77% and a return on equity of 23.31%. The business had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. During the same period last year, the firm earned $0.61 earnings per share. Cognex Corporation’s revenue for the quarter was up 75.6% compared to the same quarter last year. equities analysts predict that Cognex Corporation will post 2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.25%. This is a positive change from Cognex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 16th. Cognex Corporation’s dividend payout ratio (DPR) is currently 13.28%.
Cognex Corporation 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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