RMB Capital Management LLC Reduces Stock Position in Cognex Co. (NASDAQ:CGNX)

RMB Capital Management LLC cut its stake in Cognex Co. (NASDAQ:CGNXGet Rating) by 3.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,050 shares of the scientific and technical instruments company’s stock after selling 300 shares during the period. RMB Capital Management LLC’s holdings in Cognex were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Cognex by 1.5% in the fourth quarter. BlackRock Inc. now owns 19,214,328 shares of the scientific and technical instruments company’s stock valued at $1,494,108,000 after acquiring an additional 288,272 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Cognex by 11.7% in the fourth quarter. Alliancebernstein L.P. now owns 5,931,739 shares of the scientific and technical instruments company’s stock valued at $461,252,000 after acquiring an additional 619,196 shares during the last quarter. State Street Corp lifted its holdings in Cognex by 2.5% in the fourth quarter. State Street Corp now owns 5,733,132 shares of the scientific and technical instruments company’s stock valued at $445,808,000 after acquiring an additional 141,965 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cognex by 16.4% in the fourth quarter. Geode Capital Management LLC now owns 2,621,724 shares of the scientific and technical instruments company’s stock valued at $203,596,000 after acquiring an additional 369,689 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Cognex by 0.5% in the fourth quarter. Eagle Asset Management Inc. now owns 2,433,145 shares of the scientific and technical instruments company’s stock valued at $189,517,000 after acquiring an additional 13,159 shares during the last quarter. 88.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CGNX has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price objective on Cognex from $59.00 to $41.00 and set a “sell” rating on the stock in a report on Thursday, June 23rd. Stephens cut Cognex from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $80.00 to $45.00 in a research note on Wednesday. TheStreet cut Cognex from a “b-” rating to a “c+” rating in a research note on Tuesday, May 24th. Morgan Stanley decreased their price target on Cognex from $52.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Raymond James decreased their price target on Cognex from $80.00 to $75.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cognex currently has an average rating of “Hold” and an average price target of $62.00.

Insider Activity at Cognex

In other news, Director Dianne M. Parrotte acquired 3,000 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were bought at an average price of $46.00 per share, with a total value of $138,000.00. Following the completion of the acquisition, the director now owns 3,608 shares in the company, valued at approximately $165,968. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Cognex Price Performance

NASDAQ:CGNX opened at $47.94 on Friday. The firm has a market capitalization of $8.31 billion, a PE ratio of 32.84 and a beta of 1.66. The business’s fifty day moving average price is $46.04 and its 200 day moving average price is $58.56. Cognex Co. has a 12 month low of $41.69 and a 12 month high of $92.17.

Cognex (NASDAQ:CGNXGet Rating) last posted its earnings results on Tuesday, August 2nd. The scientific and technical instruments company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. Cognex had a return on equity of 19.19% and a net margin of 23.82%. During the same period last year, the firm earned $0.43 EPS. As a group, equities analysts anticipate that Cognex Co. will post 1.48 EPS for the current year.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 19th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, August 18th. Cognex’s dividend payout ratio (DPR) is presently 17.81%.

Cognex Company Profile

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Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing 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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