RMB Capital Management LLC cut its stake in Cognex Co. (NASDAQ:CGNX – Get 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
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:CGNX – Get 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
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.
- Get a free copy of the StockNews.com research report on Cognex (CGNX)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.