Fifth Third Bancorp Has $4.90 Million Stake in Cognex Corporation $CGNX

Fifth Third Bancorp lifted its position in shares of Cognex Corporation (NASDAQ:CGNX) by 2,893.9% during the first quarter, Holdings Channel.com reports. The firm owned 99,937 shares of the scientific and technical instruments company’s stock after buying an additional 96,599 shares during the quarter. Fifth Third Bancorp’s holdings in Cognex were worth $4,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC grew its stake in shares of Cognex by 124.5% in the fourth quarter. Intech Investment Management LLC now owns 98,451 shares of the scientific and technical instruments company’s stock valued at $3,542,000 after acquiring an additional 54,600 shares in the last quarter. One Capital Management LLC acquired a new stake in Cognex in the 4th quarter worth about $1,945,000. Nordea Investment Management AB boosted its holdings in Cognex by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 8,101,583 shares of the scientific and technical instruments company’s stock valued at $292,224,000 after purchasing an additional 76,212 shares during the period. Handelsbanken Fonder AB boosted its holdings in Cognex by 76.3% in the 4th quarter. Handelsbanken Fonder AB now owns 758,831 shares of the scientific and technical instruments company’s stock valued at $27,303,000 after purchasing an additional 328,427 shares during the period. Finally, DAVENPORT & Co LLC grew its position in shares of Cognex by 19.1% during the 4th quarter. DAVENPORT & Co LLC now owns 477,658 shares of the scientific and technical instruments company’s stock worth $17,186,000 after purchasing an additional 76,540 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CGNX. Needham & Company LLC lifted their price target on shares of Cognex from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Sanford C. Bernstein reissued an “outperform” rating and set a $75.00 price target on shares of Cognex in a research report on Thursday, May 7th. Citigroup restated a “neutral” rating and set a $72.00 price objective (up from $68.00) on shares of Cognex in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Cognex in a report on Monday, May 11th. Finally, Seaport Research Partners set a $75.00 price target on Cognex in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.31.

Cognex Stock Up 0.3%

Shares of CGNX stock opened at $64.07 on Friday. Cognex Corporation has a twelve month low of $33.45 and a twelve month high of $72.88. The stock’s fifty day simple moving average is $65.23 and its 200 day simple moving average is $54.41. The firm has a market capitalization of $10.66 billion, a P/E ratio of 76.27 and a beta of 1.49.

Cognex (NASDAQ:CGNX) last posted its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. Cognex had a return on equity of 10.89% and a net margin of 13.62%.The firm had revenue of $268.44 million during the quarter, compared to the consensus estimate of $245.98 million. During the same period last year, the company earned $0.14 earnings per share. The business’s quarterly revenue was up 24.3% on a year-over-year basis. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. As a group, equities research analysts expect that Cognex Corporation will post 1.48 EPS for the current fiscal year.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, May 21st. Cognex’s payout ratio is currently 40.48%.

Insider Activity at Cognex

In other Cognex news, VP Darren Marc Long sold 20,252 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $66.34, for a total transaction of $1,343,517.68. Following the sale, the vice president owned 3,990 shares of the company’s stock, valued at approximately $264,696.60. This represents a 83.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Fennell sold 64,873 shares of Cognex stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $67.05, for a total value of $4,349,734.65. Following the completion of the transaction, the insider directly owned 11,263 shares of the company’s stock, valued at approximately $755,184.15. This trade represents a 85.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 224,847 shares of company stock worth $14,975,098 over the last ninety days. Insiders own 1.70% of the company’s stock.

Cognex Profile

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.