Eagle Asset Management Inc. Sells 12,643 Shares of Cognex Corporation (CGNX)
Eagle Asset Management Inc. lessened its holdings in shares of Cognex Corporation (NASDAQ:CGNX) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,511,757 shares of the scientific and technical instruments company’s stock after selling 12,643 shares during the period. Cognex comprises approximately 1.0% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Eagle Asset Management Inc. owned 1.75% of Cognex worth $169,936,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CGNX. Daiwa Securities Group Inc. purchased a new stake in shares of Cognex in the second quarter valued at approximately $102,000. Huntington National Bank lifted its holdings in Cognex by 67.3% during the third quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after buying an additional 550 shares during the period. IFP Advisors Inc lifted its holdings in Cognex by 46.8% during the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock worth $163,000 after buying an additional 612 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in Cognex by 2.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock worth $170,000 after buying an additional 47 shares during the period. Finally, National Planning Corp purchased a new stake in Cognex during the second quarter worth $204,000. Institutional investors and hedge funds own 85.83% of the company’s stock.
A number of analysts have weighed in on CGNX shares. Cowen Inc restated an “outperform” rating and set a $135.00 target price (up previously from $100.00) on shares of Cognex in a report on Tuesday, August 8th. Canaccord Genuity upped their target price on Cognex from $95.00 to $120.00 and gave the stock a “hold” rating in a report on Tuesday, October 31st. Wolfe Research upgraded Cognex from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a report on Wednesday, November 1st. Finally, Robert W. Baird upped their target price on Cognex from $100.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $106.88.
Cognex Corporation (NASDAQ CGNX) opened at $144.38 on Friday. Cognex Corporation has a 12-month low of $57.42 and a 12-month high of $145.98. The stock has a market capitalization of $12,501.43, a price-to-earnings ratio of 53.28 and a beta of 1.48.
Shares of Cognex are set to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly minted shares will be issued to shareholders after the market closes on Friday, December 1st.
Cognex (NASDAQ:CGNX) last released its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. Cognex had a return on equity of 23.31% and a net margin of 34.77%. The firm had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. During the same period in the prior year, the firm earned $0.61 EPS. The firm’s revenue was up 75.6% on a year-over-year basis. research analysts predict that Cognex Corporation will post 2.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.25%. This is an increase from Cognex’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, November 16th. Cognex’s dividend payout ratio is presently 13.28%.
In related news, Director Bruce Robinson J sold 7,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $106.50, for a total value of $745,500.00. Following the transaction, the director now directly owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Benjamin Miller sold 3,750 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $134.48, for a total value 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 three months, insiders sold 150,750 shares of company stock worth $19,125,325. 5.60% of the stock is owned by insiders.
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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