State Board of Administration of Florida Retirement System Has $11.79 Million Stake in Cognex Corporation (CGNX)
State Board of Administration of Florida Retirement System grew its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,868 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,520 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of Cognex Corporation worth $11,785,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. purchased a new stake in shares of Cognex Corporation during the second quarter valued at approximately $102,000. Meeder Asset Management Inc. purchased a new stake in shares of Cognex Corporation during the second quarter valued at approximately $135,000. Huntington National Bank boosted its stake in shares of Cognex Corporation by 67.3% during the third 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 boosted its stake in shares of Cognex Corporation by 46.8% during the second 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. boosted its stake in shares of Cognex Corporation 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 valued at $170,000 after purchasing an additional 47 shares during the period. 86.17% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on CGNX. Cowen and Company reissued an “outperform” rating and set a $135.00 price objective (up previously from $100.00) on shares of Cognex Corporation in a research note on Tuesday, August 8th. Zacks Investment Research raised Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Wednesday, November 1st. J P Morgan Chase & Co lowered Cognex Corporation from a “neutral” rating to an “underweight” rating and set a $125.00 price objective for the company. in a research note on Wednesday. Robert W. Baird upped their target price on Cognex Corporation from $100.00 to $124.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, BidaskClub upgraded Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average 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 stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $132.60, for a total value of $1,657,500.00. Following the completion of the transaction, the insider now owns 6,250 shares in the company, valued at $828,750. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Benjamin Miller sold 3,750 shares of the stock in a transaction on Monday, November 6th. The stock was 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 owns 3,750 shares of the company’s stock, valued at approximately $504,300. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,500 shares of company stock valued at $25,957,651. 5.60% of the stock is owned by corporate insiders.
Cognex Corporation (CGNX) opened at $136.36 on Friday. The company has a market capitalization of $11,632.91, a P/E ratio of 49.58 and a beta of 1.48. Cognex Corporation has a twelve month low of $53.50 and a twelve month 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 market closes on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $259.74 million during 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%. The firm’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities analysts forecast that Cognex Corporation will post 2.77 earnings per share for the current fiscal 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 $0.09 dividend. 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 dividend on an annualized basis and a yield of 0.26%. Cognex Corporation’s dividend payout ratio is 12.55%.
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About Cognex Corporation
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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