Covington Capital Management bought a new stake in Cognex Co. (NASDAQ:CGNX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,966 shares of the scientific and technical instruments company’s stock, valued at approximately $110,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Picton Mahoney Asset Management grew its position in Cognex by 1.1% in the fourth quarter. Picton Mahoney Asset Management now owns 18,300 shares of the scientific and technical instruments company’s stock valued at $1,026,000 after acquiring an additional 200 shares during the last quarter. IFM Investors Pty Ltd grew its position in Cognex by 1.3% in the fourth quarter. IFM Investors Pty Ltd now owns 18,950 shares of the scientific and technical instruments company’s stock valued at $1,062,000 after acquiring an additional 238 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Cognex by 2.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,566 shares of the scientific and technical instruments company’s stock valued at $592,000 after acquiring an additional 278 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Cognex by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 41,300 shares of the scientific and technical instruments company’s stock valued at $2,314,000 after acquiring an additional 300 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its position in Cognex by 14.9% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,320 shares of the scientific and technical instruments company’s stock valued at $130,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

Cognex stock opened at $42.91 on Thursday. The stock’s 50 day moving average is $47.29 and its 200 day moving average is $50.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.04 and a quick ratio of 4.54. The firm has a market cap of $7.62 billion, a P/E ratio of 36.68 and a beta of 1.96. Cognex Co. has a one year low of $35.20 and a one year high of $59.14.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Thursday, February 13th. The scientific and technical instruments company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.02). The company had revenue of $169.77 million during the quarter, compared to analyst estimates of $161.20 million. Cognex had a return on equity of 16.39% and a net margin of 28.09%. Equities analysts anticipate that Cognex Co. will post 0.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 28th were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Thursday, February 27th. Cognex’s dividend payout ratio is currently 18.97%.

CGNX has been the topic of a number of recent research reports. Morgan Stanley lowered Cognex from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $36.00 in a research note on Monday. TheStreet lowered Cognex from a “b-” rating to a “c+” rating in a research note on Thursday, March 12th. Zacks Investment Research lowered Cognex from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS Group initiated coverage on Cognex in a research note on Thursday, December 12th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, BidaskClub raised Cognex from a “sell” rating to a “hold” rating in a research note on Friday, March 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $49.20.

In related news, Director Jerry A. Schneider sold 12,000 shares of Cognex stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $51.33, for a total value of $615,960.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $513,300. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.20% of the stock is owned by insiders.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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