Prudential Financial Inc. Has $39.56 Million Stake in Cognex Corporation (CGNX)
Prudential Financial Inc. reduced its stake in Cognex Corporation (NASDAQ:CGNX) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,686 shares of the scientific and technical instruments company’s stock after selling 68,920 shares during the period. Prudential Financial Inc. owned approximately 0.41% of Cognex Corporation worth $39,556,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in CGNX. Daiwa Securities Group Inc. bought a new stake in shares of Cognex Corporation in the 2nd quarter valued at approximately $102,000. Meeder Asset Management Inc. bought a new stake in shares of Cognex Corporation in the 2nd quarter valued at approximately $135,000. Huntington National Bank grew its stake in shares of Cognex Corporation by 67.3% in the 3rd quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock valued at $151,000 after purchasing an additional 550 shares during the period. IFP Advisors Inc grew its stake in shares of Cognex Corporation by 46.8% in the 2nd quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after purchasing an additional 612 shares during the period. Finally, Bronfman E.L. Rothschild L.P. grew its stake in shares of Cognex Corporation by 2.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,999 shares of the scientific and technical instruments company’s stock valued at $170,000 after purchasing an additional 47 shares during the period. Institutional investors own 85.51% of the company’s stock.
Cognex Corporation (CGNX) opened at $136.36 on Monday. The company has a market capitalization of $11,806.95, a P/E ratio of 50.32 and a beta of 1.48. Cognex Corporation has a 1-year low of $53.50 and a 1-year high of $138.18.
Shares of Cognex Corporation are going to split before the market opens on 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 announced its earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $259.74 million for the quarter, compared to the consensus estimate of $255.95 million. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. Cognex Corporation’s revenue was up 75.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. equities research analysts anticipate that Cognex Corporation will post 2.77 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date is Thursday, November 16th. This represents a $0.36 annualized dividend and a yield of 0.26%. Cognex Corporation’s dividend payout ratio is currently 12.55%.
CGNX has been the topic of several analyst reports. Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Wednesday, November 1st. Canaccord Genuity upped their price objective on Cognex Corporation from $95.00 to $120.00 and gave the company a “hold” rating in a research note on Tuesday, October 31st. Robert W. Baird upped their price objective on Cognex Corporation from $100.00 to $124.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Cowen and Company upped their price objective on Cognex Corporation from $100.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Wolfe Research upgraded Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $106.88.
In other Cognex Corporation news, insider John J. Curran sold 12,500 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $132.60, for a total transaction of $1,657,500.00. Following the transaction, the insider now owns 6,250 shares of the company’s stock, valued at approximately $828,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert Willett sold 66,759 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $104.58, for a total value of $6,981,656.22. Following the transaction, the chief executive officer now directly owns 9,468 shares in the company, valued at approximately $990,163.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,750 shares of company stock worth $24,945,796. Company insiders own 5.60% of the company’s stock.
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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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