Envestnet Asset Management Inc. lowered its position in shares of Cognex Co. (NASDAQ:CGNX – Get Rating) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,022 shares of the scientific and technical instruments company’s stock after selling 25,682 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Cognex worth $15,277,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Cognex by 1.5% during the fourth quarter. BlackRock Inc. now owns 19,214,328 shares of the scientific and technical instruments company’s stock worth $1,494,108,000 after purchasing an additional 288,272 shares in the last quarter. Alliancebernstein L.P. lifted its position 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 position 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 position 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 position 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. Institutional investors and hedge funds own 88.85% of the company’s stock.
Cognex Stock Up 3.2 %
Shares of Cognex stock opened at $47.95 on Friday. Cognex Co. has a 52-week low of $41.69 and a 52-week high of $92.17. The company’s 50-day simple moving average is $46.07 and its 200-day simple moving average is $58.71. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 32.84 and a beta of 1.66.
Cognex Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.54%. Cognex’s dividend payout ratio (DPR) is 17.81%.
Insider Transactions at Cognex
In related news, Director Dianne M. Parrotte bought 3,000 shares of the stock in a transaction on Thursday, May 12th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $138,000.00. Following the completion of the transaction, the director now owns 3,608 shares of the company’s stock, valued at approximately $165,968. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Cognex from $80.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, May 26th. Cowen reduced their price target on shares of Cognex from $75.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday. Sanford C. Bernstein raised shares of Cognex from a “market perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Wednesday. Needham & Company LLC reduced their price target on shares of Cognex from $80.00 to $60.00 and set a “buy” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group reduced their target price on shares of Cognex from $59.00 to $41.00 and set a “sell” rating for the company in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cognex currently has an average rating of “Hold” and an average price target of $62.00.
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.
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