Daiwa Securities Group Inc. Acquires 1,199 Shares of Cognex Corporation (CGNX)
Daiwa Securities Group Inc. increased its holdings in shares of Cognex Corporation (NASDAQ:CGNX) by 99.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,399 shares of the scientific and technical instruments company’s stock after buying an additional 1,199 shares during the period. Daiwa Securities Group Inc.’s holdings in Cognex Corporation were worth $264,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. increased its stake in Cognex Corporation by 39.1% during the 3rd quarter. American Century Companies Inc. now owns 512,562 shares of the scientific and technical instruments company’s stock worth $56,525,000 after buying an additional 144,122 shares during the period. Riverbridge Partners LLC boosted its stake in Cognex Corporation by 2.7% during the 3rd quarter. Riverbridge Partners LLC now owns 257,098 shares of the scientific and technical instruments company’s stock worth $28,353,000 after purchasing an additional 6,835 shares during the period. Sapphire Star Partners LP acquired a new stake in Cognex Corporation during the 3rd quarter worth $556,000. Empirical Finance LLC acquired a new stake in Cognex Corporation during the 3rd quarter worth $209,000. Finally, First Capital Advisors Group LLC. acquired a new stake in Cognex Corporation during the 3rd quarter worth $222,000. 85.51% of the stock is currently owned by hedge funds and other institutional investors.
CGNX has been the subject of a number of recent research reports. reiterated an “outperform” rating and set a $135.00 price target (up previously from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. upped their price objective on shares of Cognex Corporation from $95.00 to $120.00 and gave the stock a “hold” rating in a research report on Tuesday, October 31st. upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, August 14th. upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Wednesday, November 1st. Finally, upped their price objective on shares of Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $106.88.
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Cognex Corporation (CGNX) opened at $137.73 on Wednesday. Cognex Corporation has a twelve month low of $57.12 and a twelve month high of $140.94. The stock has a market cap of $11,905.66, a PE ratio of 50.74 and a beta of 1.48.
Shares of Cognex Corporation are going to split on the morning of Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly created shares will be distributed to shareholders after the market closes on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Cognex Corporation had a net margin of 34.77% and a return on equity of 23.31%. The firm had revenue of $259.74 million during the quarter, compared to the consensus estimate of $255.95 million. During the same period last year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 75.6% on a year-over-year basis. analysts expect that Cognex Corporation will post 2.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a dividend of $0.09 per share. This is an increase from Cognex Corporation’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, November 16th. Cognex Corporation’s dividend payout ratio (DPR) is 12.55%.
In other Cognex Corporation news, 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 sale, the director now directly owns 3,750 shares of the company’s stock, valued at approximately $504,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Willett sold 8,241 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $103.09, for a total transaction of $849,564.69. Following the sale, the chief executive officer now directly owns 8,241 shares in the company, valued at $849,564.69. The disclosure for this sale can be found here. Insiders have sold a total of 158,991 shares of company stock valued at $19,974,890 over the last 90 days. 5.60% of the stock is currently owned by insiders.
About Cognex Corporation
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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